AIFMD – Start of the trilogue
On 25 November 2021, the European Commission published a proposal to amend the AIFM and UCITS Directives.
The main changes that could have an impact on management companies are notably:
The clarification of the rules on delegation,
The harmonisation of liquidity management tools, such as the Gates,
And the improvement of data collected through regulatoryreporting.
End of January 2023, the vote by the European Parliament’s ECON committee means that we now know the starting position for the AIFMD trilogues which began on March. These negotiations between the European Commission, the Council of the EU and the European Parliament should lead to an agreed text for a new directive, which will make amendments to the AIFMD. When agreed, the revised text is expected to come into force in 2025, after the 24 months for transposition in local law.