EC Proposals for reform of AIFMD, UCITS Directive and the ELTIF regime: Welcome changes or regulatory creep?

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Reproduced with permission from Agefi Luxembourg. This article was first published in Agefi Luxembourg - Janvier 2022 - Luxembourg.

Following its review of the scope and functioning of the AIFMD, the European Commission has concluded that the AIFMD’s standards for ensuring high levels of investor protection are mostly effective, but that amendments are required which are intended to be targeted in scope. The EC published new legislative amendments to AIFMD, the UCITS Directive and the ELTIF Regulation.

Several commentators stressed that the amendments proposed are evolutions rather than revolutions. However, we believe that some of them may have far reaching effects.