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AIFMD Review - ESMA’s proposals to the European Commission

Client memorandum | August 28, 2020

On 18 August 2020, the European Securities and Markets Authority (“ESMA”) wrote to the European Commission outlining aspects of the EU Alternative Investment Fund Managers Directive (“AIFMD”) that it believes could be improved (the “ESMA Letter”). The ESMA Letter comes at a critical time, as the European Commission is presently undertaking a review of the AIFMD, with a legislative mandate to propose ‘appropriate amendments’.

This memorandum provides a high-level summary of the changes proposed by ESMA that are likely to be of most interest to European alternative investment fund managers.

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