Global Trustee and Fiduciary Services Bite-Sized Issue 4 2024

AIFMD Amendments to AIFMD and UCITS Directive Published in Official Journal of the European Union On 26 March 2024, Directive (EU) 2024/927 of the European Parliament and of the Council of 13 March 2024, amending Directives 2011/61/EU (AIFMD) and 2009/65/EC (UCITS) as regards delegation arrangements, liquidity risk management, supervisory reporting, the provision of depositary and custody services and loan origination by alternative investment funds, was published in the Official Journal of the European Union. Key amendments include: • Delegation; • Asset safekeeping; • Supervisory reporting; • Liquidity risk management; • Cross border depositary provision for alternative investment funds; and • Loan origination by alternative investment funds. The amendments came into force on 15 April 2024 and Member States have 24 months to adopt and publish the laws, regulations and administrative provisions necessary to comply with the Directive. Link to the Amending Directive here Delegated and Implementing Regulations Published in Official Journal of the European Union On 25 March 2024, Delegated Regulation (EU) 2024/912 on regulatory technical standards specifying the information to be notified in relation to the cross-border activities of managers of alternative investment funds and Implementing Regulation (EU) 2024/913 on the form and content of the information to be notified in respect of the cross-border activities of alternative investment fund managers and the exchange of information between competent authorities on cross-border notification letters, were published in the Official Journal of the European Union. Regulation (EU) 2024/912 supports the AIFMD by further specifying the minimum information required to be submitted to the competent authorities of member states under Article 33 – Conditions for managing EU AIFs established in other Member States and for providing services in other Member States. This regulation applies from 25 June 2024. Regulation (EU) 2024/913 provides templates for notification letters and statements required under Articles: • 31(2) – Marketing of units or shares of EU AIFs in the home Member State of the AIFM; Securities Services Bite-Sized Global Trustee and Fiduciary Services Issue 4 | 2024 QUICK LINKS AIFMD BENCHMARK REGULATION CBDC COSTS & CHARGES CRYPTOASSETS CYBERSECURITY DIVERSITY & INCLUSION FINTECH IFD/IFR LIBOR TRANSITION MIFID II/MIFIR OPERATIONAL RESILIENCE PRIIPS RETAIL INVESTMENT STRATEGY SETTLEMENT SUSTAINABLE FINANCE/ESG UCITS ASIA LUXEMBOURG NORTH AMERICA UNITED KINGDOM