In This Alert:

- Alternative Investment Fund Managers Directive

- Proposed MiFID II Directive

- Proposed Capital Requirements Directive IV

- Excerpt from Alternative Investment Fund Managers Directive:

The Alternative Investment Fund Managers Directive (AIFMD) came into force on 21 July 2011. Implementation by Member States is required by 22 July 2013. Compliance with the Directive by EU managers is required following implementation, although there is a one year grace period (until 23 July 2014) for EU managers to obtain authorisation as an “AIFM” under the Directive.

The Commission has still not published the final Level 2 Regulations, which are the detailed implementing measures underling various parts of the Directive. The Level 2 Regulations will have direct effect in each Member State...