AIFMD Re-shaping for the Future (KPMG)

October 2012

KEYWORDS: AIFMD, EU, European Union, alternative investment, hedge funds, France, Germany, United Kingdom, Luxembourg, Netherlands, European Commission, Hedge Fund Regulation, regulatory reform, EU Member State, delegation, EU Marketing Passport, ESMA, MiFID, UCITS, G20, hedge fund registration, prime broker, risk management, leverage, Liquidity, depositary, net asset value, recordkeeping requirements

Authors:

Charles Muller, Nathalie Dogniez

Organizations:
  • KPMG

Summary:

At a G20 summit in November 2008 the G20 leaders concluded that a secure and stable financial system requires all significant financial market actors to be subject to appropriate regulation and supervision for investor protection as well as financial stability reasons.

In essence the AIFMD lays down the rules for the authorisation, ongoing operation and transparency of fund managers that manage and/or market alternative investment funds (AIF) in the European Union. The AIFMD will significantly change the regulatory framework for a wide spectrum of funds including hedge funds, private equity funds, real estate funds and infrastructure funds from its implementation deadline in July 2013.

Those fund managers based outside the EU that manage and/or market alternative investment funds in the EU will also be significantly impacted by the AIFMD and will need to adapt their operations and marketing activities to this new framework.

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