The Alternative Investment Fund Manager's Directive

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The Alternative Investment Fund Managers Directive (AIFMD) is a pivotal European asset management regulation of the early 21st century. However, many practitioners and academics argue that the directive, in its current form, is disconnected from European financial law and industry practices. This comprehensive analytical discussion features contributions from thirty-four experts, including academics, lawyers, consultants, and fund supervisors, who examine the AIFMD from multiple perspectives. They delve into its structure, regulatory history, scope, manager appointment and authorization, delegation rules, reporting requirements, transitional provisions, and the objectives outlined in official documents. The book also includes ten country reports that provide a national viewpoint on the regulation's interaction with the laws of Italy, Switzerland, Luxembourg, The Netherlands, Austria, Liechtenstein, the United Kingdom, Germany, France, and Ireland—key financial centers in Europe. This critical examination aims to foster a thoughtful approach to the evolving European financial markets framework introduced by the AIFMD. It highlights inconsistencies and challenges in applying the directive while offering potential solutions. Investors, fund managers, depositaries, asset managers, administrators, and academics will find this discussion invaluable.