In brief
On 26 March 2024, Directive (EU) 2024/927 amending the Alternative Investment Fund Managers Directive (AIFMD) and the Undertaking for Collective Investment in Transferable Securities Directive (UCITSD) relating to delegation arrangements, liquidity risk management, supervisory reporting, provision of depositary and custody services and loan origination by alternative investment funds (AIFMD II or “Directive”) was published in the Official Journal of the European Union.
AIFMD II will enter into force on 15 April 2024.
Member states have until 16 April 2026 to transpose the Directive into national law, with the exception of the measures transposing Article 1(12) and those transposing Article 2(7) with regard to Article 20a of the UCITS Directive (both of which relate to certain reporting requirements), which member states must apply from 16 April 2027.
To know more about the key changes in AIFMD II, you may further refer to our previously published insights on AIFMD II — see here and here.
For further information and to discuss what this development might mean for you, please get in touch with your usual Baker McKenzie contact.