From 22 July 2013, the Alternative Investment Fund Managers Directive (2011/61/EU) (the "Directive") and the supplementary level 2 Regulation (EU) No 231/2013 (the "Regulation") will come into effect. This legislation will introduce an authorisation regime and centralised rulebook for the management and marketing within the European Economic Area (the "EEA") of alternative investment funds ("AIFs") by alternative investment fund managers ("AIFMs"). Importantly, it will also introduce a European passporting regime for such activities.
This alert aims to describe, through a series of questions and answers, how the Directive will affect AIFMs that do not have their registered office in an EEA state ("non-EEA AIFMs") and which key dates should be borne in mind by such AIFMs.
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