On 26 March 2024, there was published in the Official Journal of the EU, Directive 2024/927 of 13 March 2024, amending the Alternative Investment Fund Managers Directive and the UCITS Directive as regards delegation arrangements, liquidity risk management, supervisory reporting, the provision of depository and custody services and loan origination by alternative investment funds.

The Directive shall enter into force on the twentieth day following its publication in the OJ (15 April 2024). By 16 April 2026, Member States must adopt and publish the laws, regulations and administrative provisions necessary to comply with the Directive. They must apply these measures from 16 April 2026, with the exception of the measures transposing Article 1(12), and those transposing Article 2(7) with regard to Article 20a of the UCITS Directive, which Member States must apply from 16 April 2027.

We are actively discussing the AIFMD 2 with clients – please reach out to the authors if you would like to discuss the implications for your firm.