Alternative Investment Fund Managers Directive (AIFMD)

Published 02.11.2020

State of play: on 1 July 2011, the Directive was published in the Official Journal (L 174/1)

Level 2

  • 19 December 2012, the Commission adopted a delegated regulation with regard to exemptions, general operating conditions, depositaries, leverage, transparency and supervision.
  • 15 May 2013, the Commission adopted an implementing act establishing the procedure for AIFMs which choose to opt in under AIFMD and an implementing act establishing a procedure for determining the Member State of reference of a non-EU AIFM pursuant to AIFMD.
  • 10 December 2018, the Commission published a report on the operation of the AIFMD, starting the review process.
  • 22 April 2021, the Commission published an amended delegated act on sustainability risks and sustainability factors to be taken into account by Alternative Investment Fund Managers. This will have to be approved by the Council and the Commission before being published in the OJ.
  • 15 June 2021, the Commission published an implementing regulation regarding central database on cross-border marketing of AIFs and UCITS

Level 3

Next steps

  • The Commission has started its review process of the AIFMD.
« »


Association des Banques et Banquiers, Luxembourg


12, Rue Erasme L-1468 Luxembourg

Phone Fax
Opening hours

Monday to Friday from 8:00 to 17:30.