Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011... (32011L0061)
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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
- 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)
- CHAPTER I
- GENERAL PROVISIONS
- Article 1
- Subject matter
- Article 2
- Scope
- Article 3
- Exemptions
- Article 4
- Definitions
- Article 5
- Determination of the AIFM
- CHAPTER II
- AUTHORISATION OF AIFMs
- Article 6
- Conditions for taking up activities as AIFM
- Article 7
- Application for authorisation
- Article 8
- Conditions for granting authorisation
- Article 9
- Initial capital and own funds
- Article 10
- Changes in the scope of the authorisation
- Article 11
- Withdrawal of the authorisation
- CHAPTER III
- OPERATING CONDITIONS FOR AIFMs
- SECTION 1
- General requirements
- Article 12
- General principles
- Article 13
- Remuneration
- Article 14
- Conflicts of interest
- Article 15
- Risk management
- Article 16
- Liquidity management
- Article 17
- Investment in securitisation positions
- SECTION 2
- Organisational requirements
- Article 18
- General principles
- Article 19
- Valuation
- SECTION 3
- Delegation of AIFM functions
- Article 20
- Delegation
- SECTION 4
- Depositary
- Article 21
- Depositary
- CHAPTER IV
- TRANSPARENCY REQUIREMENTS
- Article 22
- Annual report
- Article 23
- Disclosure to investors
- Article 24
- Reporting obligations to competent authorities
- CHAPTER V
- AIFMs MANAGING SPECIFIC TYPES OF AIF
- SECTION 1
- AIFMs managing leveraged AIFs
- Article 25
- Use of information by competent authorities, supervisory cooperation and limits to leverage
- SECTION 2
- Obligations for AIFMs managing AIFs which acquire control of non-listed companies and issuers
- Article 26
- Scope
- Article 27
- Notification of the acquisition of major holdings and control of non-listed companies
- Article 28
- Disclosure in case of acquisition of control
- Article 29
- Specific provisions regarding the annual report of AIFs exercising control of non-listed companies
- Article 30
- Asset stripping
- CHAPTER VI
- RIGHTS OF EU AIFMs TO MARKET AND MANAGE EU AIFs IN THE UNION
- Article 31
- Marketing of units or shares of EU AIFs in the home Member State of the AIFM
- Article 32
- Marketing of units or shares of EU AIFs in Member States other than in the home Member State of the AIFM
- Article 33
- Conditions for managing EU AIFs established in other Member States
- CHAPTER VII
- SPECIFIC RULES IN RELATION TO THIRD COUNTRIES
- Article 34
- Conditions for EU AIFMs which manage non-EU AIFs which are not marketed in Member States
- Article 35
- Conditions for the marketing in the Union with a passport of a non-EU AIF managed by an EU AIFM
- Article 36
- Conditions for the marketing in Member States without a passport of non-EU AIFs managed by an EU AIFM
- Article 37
- Authorisation of non-EU AIFMs intending to manage EU AIFs and/or market AIFs managed by them in the Union in accordance with Article 39 or 40
- Article 38
- Peer review of authorisation and supervision of non-EU AIFMs
- Article 39
- Conditions for the marketing in the Union with a passport of EU AIFs managed by a non-EU AIFM
- Article 40
- Conditions for the marketing in the Union with a passport of non-EU AIFs managed by a non-EU AIFM
- Article 41
- Conditions for managing AIFs established in Member States other than the Member State of reference by non-EU AIFMs
- Article 42
- Conditions for the marketing in Member States without a passport of AIFs managed by a non-EU AIFM
- CHAPTER VIII
- MARKETING TO RETAIL INVESTORS
- Article 43
- Marketing of AIFs by AIFMs to retail investors
- CHAPTER IX
- COMPETENT AUTHORITIES
- SECTION 1
- Designation, powers and redress procedures
- Article 44
- Designation of competent authorities
- Article 45
- Responsibility of competent authorities in Member States
- Article 46
- Powers of competent authorities
- Article 47
- Powers and competences of ESMA
- Article 48
- Administrative penalties
- Article 49
- Right of appeal
- SECTION 2
- Cooperation between different competent authorities
- Article 50
- Obligation to cooperate
- Article 51
- Transfer and retention of personal data
- Article 52
- Disclosure of information to third countries
- Article 53
- Exchange of information relating to the potential systemic consequences of AIFM activity
- Article 54
- Cooperation in supervisory activities
- Article 55
- Dispute settlement
- CHAPTER X
- TRANSITIONAL AND FINAL PROVISIONS
- Article 56
- Exercise of the delegation
- Article 57
- Revocation of the delegation
- Article 58
- Objections to delegated acts
- Article 59
- Implementing measures
- Article 60
- Disclosure of derogations
- Article 61
- Transitional provisions
- Article 62
- Amendments to Directive 2003/41/EC
- Article 63
- Amendments to Directive 2009/65/EC
- ‘Article 50a
- Article 64
- Amendment to Regulation (EC) No 1060/2009
- Article 65
- Amendment to Regulation (EU) No 1095/2010
- Article 66
- Transposition
- Article 67
- Delegated act on the application of Article 35 and Articles 37 to 41
- Article 68
- Delegated act on the termination of the application of Articles 36 and 42
- Article 69
- Review
- Article 70
- Entry into force
- Article 71
- Addressees
- ANNEX I
- ANNEX II
- REMUNERATION POLICY
- ANNEX III
- DOCUMENTATION AND INFORMATION TO BE PROVIDED IN CASE OF INTENDED MARKETING IN THE HOME MEMBER STATE OF THE AIFM
- ANNEX IV
- DOCUMENTATION AND INFORMATION TO BE PROVIDED IN THE CASE OF INTENDED MARKETING IN MEMBER STATES OTHER THAN THE HOME MEMBER STATE OF THE AIFM
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