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Summary of report created by Baker and McKenzie (Luxembourg)
Announced back in 2009, all EU member states must have implemented the AIFM Directive by the 22nd of July 2013. The Level II regulations are expected to be published in October, meanwhile Luxembourg, Ireland and the UK are competing to transpose the directive into National law first to position themselves as the leading player. Ireland has a head start in Alternatives, with a 40% of market share, meanwhile on the 24th of August the Luxembourg parliament also commenced the process of transposing the directive into National law.
Fund industry stakeholders now have a clear idea of the scope of the AIFMD. Managers are not the only ones affected. Depository banks, Administration agents...
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