Tuesday, May 31, 2011

Council of the EU Adopts AIFM Directive

On May 27, 2011, the Council of the EU finally announced [http://www.consilium.europa.eu/uedocs/cms_Data/docs/pressdata/en/ecofin/122250.pdf] its adoption of the text of the AIFM Directive [http://register.consilium.europa.eu/pdf/en/10/pe00/pe00060.en10.pdf], following an agreement reached with the European Parliament at first reading. As previously reported [http://curtis-ifg.blogspot.com/2010/12/aifm-directive.html], the European Parliament adopted the text of the AIFM Directive on November 11, 2010.

The official text of the AIFM Directive will now be published in the Official Journal of the EU and the directive will enter into force on the 20th day following publication. EU Member States will have two years to implement the provisions of the AIFM Directive into national law.