AIFMD II
Directive (EU) 2024/927 (AIFMD II) is a European directive that amends two existing directives: the AIFM Directive (2011/61/EU) and the UCITS Directive (2009/65/EC). AIFMD II further harmonises and strengthens supervision within both regulatory frameworks in the European Union. In the run-up to the entry into force of AIFMD II, the AFM regularly shares informative ‘AIFMD II updates’ and other publications to help managers prepare.
Policy-makers
The first edition of the AIFMD II update focuses on the new provisions aimed at amending the minimum requirements for the management of a manager. Existing requirements remain in full force.
Loan origination
This second edition of the AIFMD II update examines the new European rules for funds that originate loans. The directive introduces additional requirements and new definitions.
New rules for liquidity management
This third edition covers new European rules on liquidity management. Managers of open-ended funds must have at least two liquidity management tools (LMTs) and associated ‘LMT policies’.
Stricter requirements
This fourth edition of the AIFMD II update explains the stricter requirements for third-country managers wishing to market funds in the Netherlands. They must not be established in jurisdictions designated as high-risk under EU anti-money laundering regulations or featured on the EU list of non-cooperative tax jurisdictions. In addition, these managers must explain to the AFM how they will comply with all applicable legal obligations.