European Commission Issues Report on the Impact of AIFMD

23 January 2019
View Debevoise Update
Key takeaways:
  • The European Commission recently published a report on the operation of the Alternative Investment Fund Managers Directive (AIFMD), to inform its approach to the planned review of the Directive. The report is a survey of numerous market participants on the effectiveness of the AIFMD since its inception.
  • Overall, the report is positive, stating that most provisions of the AIFMD have achieved their objectives, created uniform standards in the EU and promoted investor confidence.
  • The report identifies a fairly modest number of areas with shortcomings or which need further work – such as in relation to regulatory reporting, depositary rules and private equity investment in non-listed companies.