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By Dr. Sebastiaan Niels HOOGHIEMSTRA, Loyens Loeff Luxembourg*
Directive (EU) 2024/927 (“AIFMD 2”) amends both Directive 2011/61/EU (the “AIFMD”) and Directive 2009/65/EC (the “UCITSD”). AIFMD 2 contains various amendments in relation to, amongst others, liquidity management tools and loan-originating funds that are often discussed. A topic that will be of importance in practice but that has not yet been discussed is when distributors that are appointed for UCITS and/or AIFs are considered to be “acting on their own behalf”. AIFMD 2 both contains an amendment with a derogation provision with respect to the delegation of the marketing function for both AIFMs and UCITS management companies (“UCITS Mancos”). This contribution seeks to offer a preliminary...
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