AIFM Directive

Objectives

On completion of this tutorial, you will be able to:

• Identify the objective, scope, and key definitions associated with the Alternative Investment Fund Managers Directive (AIFMD)

• Recognize the main requirements that the AIFMD places on alternative investment fund managers

Tutorial Overview

The Alternative Investment Fund Managers Directive (AIFMD) was introduced in response to calls for greater regulation of hedge funds, private equity funds, and other alternative investment funds (AIFs). Driven by the events of the financial crisis and the Madoff investment fund scandal, the AIFMD represented the most radical reshaping of fund management regulation in Europe since the first UCITS directive in 1985.

This tutorial describes the main provisions of the AIFMD, including (among others) the requirements in relation to authorization, remuneration, risk management, liquidity management, securitization positions, valuation, delegation, and depositaries.

Prerequisite Knowledge

None

Tutorial Level

Introductory

Tutorial Duration

75 minutes