EU Hedge Fund Reform and AIFMD

Passed in November 2010, the Alternative Investment Fund Managers Directive (AIFMD) establishes a consistent regulatory framework across the European Union for managers of alternative investment funds.  Alternative investment funds include hedge funds, private equity, and a wide range of other types of institutional funds.

The AIFMD is intended to achieve the following public policy goals, among others:

  • Increasing the transparency of alternative investment fund managers towards investors, supervisors and employees of the companies in which they invest;
  • Equipping national supervisors, with the information and tools necessary to monitor and respond to risks that could be amplified by alternative investment activity;
  • Introducing a common and robust approach to investor protection, including rules regarding the use of depositaries by alternative investment funds; and
  • Increasing the accountability of managers holding controlling stakes in companies.

Click here for information on current EU short sale restrictions.

Learn more about EU regulation of hedge funds with MFA’s educational presentation, EU Regulation 101: Guide to European Oversight of the Hedge Fund Industry

Further Resources

MFA Comment Letter to Financial Conduct Authority on Capital Requirements Directive (CRD) IV Consultation

MFA Submits Comments to ESMA in Response to AIFMD Reporting Guidelines

MFA and AIMA Submit Letter to ESMA with Additional Q&As on EMIR

MFA and AIMA Submit Letter to BaFin on the Interpretation of the German HFT Law

MFA Comment Letter to Financial Conduct Authority on AIFMD Implementation

MFA and AIMA Submit Joint Letter to ESMA Proposing Q&As on EMIR

MFA and AIMA Submit Letter to ESMA on Contracts Having a Direct, Substantial and Foreseeable Effect within the EU

MFA Submits Comment Letter to HM Treasury on AIFMD Implementation

MFA Submits Comment Letter to ESMA on MiFID Remuneration Guidelines

MFA Submits Comments on AIFMD Remuneration

MFA Comment Letter on IOSCO Consultation on Liquidity Risk Management

MFA Non-STP Letter to ESMA on Draft Technical Standards

MFA Comment Letter on IOSCO Consultation on Liquidity Risk Management

MFA Submits White Paper to European Commission on Shadow Banking

MFA Submits Comments to European Supervisory Authorities in Response to Joint Discussion Paper on Risk Mitigation Techniques

MFA Response to ESMA Discussion Paper on Key Concepts of the AIFMD and Types of AIFM

MFA Submits Comments to ESMA in Response to Draft Technical Standards on OTC Derivatives, CCPs and Trade Repositories

MFA Submits Comments to ESMA on Short Selling and Sovereign CDS

MFA Submits Comments to ESMA Regarding MiFID Compliance Requirements

Michel Barnier, European Commissioner for Internal Market and Services, Discusses Financial Regulation and Coordination

MFA Submits Comments to ESMA in Response to Consultation Paper on Short Selling and Credit Default Swaps

MFA Chair Discusses Global Financial Regulatory Challenges on Panel with EMSA Executive Director Verena Ross and MEP Markus Ferber

MFA Responds to ECON’s MiFID Questionnaire

Comment Letter to ESMA on Draft Guidelines for Systems and Controls in a Highly Automated Trading Environment

Comment Letter to ESMA on its Technical Advice to the European Commission for Implementing AIFMD

Comment Letter to ESMA on its Draft Technical Advice to the European Commission for Implementing AIFMD

MFA Comment Letter on Implementation of AIFMD

MFA Comment Letter to ESMA on Implementation of AIFMD

MFA Member Resource: MFA White Paper on AIFMD

European Commission statement at the occasion of the European Parliament vote on the directive on hedge funds and private equity

Directive on Alternative Investment Fund Managers (‘AIFMD’): Frequently Asked Questions

MFA Comment Letter on Scope of AIFMD

MFA Comment Letter on Implementation of AIFMD