On May 27, it was announced that the EU Council of Ministers had adopted the final text of the Alternative Investment Fund Managers Directive (AIFMD).
The Directive was adopted by the European Parliament on November 11, 2010 (see the November 19, 2010, edition of Corporate and Financial Weekly Digest).
The Directive will enter into force on the 20th day following its publication in the EU Official Journal (expected to be some time in June). After that member states will have two years to transpose the AIFMD provisions into national law. Accordingly the provisions of the AIFMD will begin to come into force in mid-2013.