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The first draft of the Alternative Investment Fund Managers Directive (the “AIFMD”) was published in April 2009 and came into force in each European Union (“EU”) member state in July 2011. It aims to establish a common authorisation and supervisory regime for managers (“Managers”) of all investment funds (“Funds”), other than UCITS, that are managed or marketed to professional investors in the EU and is due to be transposed into national law for all EU member states by 22 July 2013 (the “Transposition Date”).
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The AIFMD – Third Country Update: October 2012