Council of the European Union and European Parliament 8 June 2011, Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010 Text with EEA relevance

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Directive 2011/61/EU establishes a regulatory framework for Alternative Investment Fund Managers (AIFMs) within the European Union, aiming to harmonize the authorization and supervision of AIFMs to mitigate risks associated with their activities. Key provisions include the requirement for AIFMs to obtain authorization to manage and market AIFs, adherence to governance and remuneration standards, and the establishment of a transitional passport regime for non-EU AIFMs. The Directive applies to entities managing AIFs as a regular business, excluding certain investment undertakings and specifying conditions for smaller AIFMs to operate under a lighter regulatory regime.AI