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Alternative Investment Fund Managers Directive (AIFMD)

Preamble
Recitals 95
Chapter I - GENERAL PROVISIONS (Article 1-5) 5
Chapter II - AUTHORISATION OF AIFMs (Article 6-11) 6
Chapter III - OPERATING CONDITIONS FOR AIFMs (Article 12-21) 10
- Section 1 - General requirements (Article 12-17) 6
- Section 2 - Organisational requirements (Article 18-19) 2
- Section 3 - Delegation of AIFM functions (Article 20) 1
- Section 4 - Depositary (Article 21) 1
Chapter IV - TRANSPARENCY REQUIREMENTS (Article 22-24) 3
Chapter V - AIFMs MANAGING SPECIFIC TYPES OF AIF (Article 25-30) 6
Chapter VI - RIGHTS OF EU AIFMs TO MARKET AND MANAGE EU AIFs IN THE UNION (Article 30a-33) 5
Chapter VII - SPECIFIC RULES IN RELATION TO THIRD COUNTRIES (Article 34-42) 9
Chapter VIII - MARKETING TO RETAIL INVESTORS (Article 43-43a) 2
Chapter IX - COMPETENT AUTHORITIES (Article 44-55) 12
Chapter X - TRANSITIONAL AND FINAL PROVISIONS (Article 56-71) 17
Annexes 4
Amending acts 9

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New version applies from 16/04/2026 — introduced by Directive (EU) 2024/927 (AIFMD II). 37 provisions change. Article 17 changes in this version: compare with the current text.

View as of 16/04/2026 What changes

Article 17

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Article 17

Where AIFMs are exposed to a securitisation that no longer meets the requirements provided for in Regulation (EU) 2017/2402 of the European Parliament and of the Council ⁷, they shall, in the best interest of the investors in the relevant AIFs, act and take corrective action, if appropriate.

7 Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation, and amending Directives 2009/65/EC, 2009/138/EC and 2011/61/EU and Regulations (EC) No 1060/2009 and (EU) No 648/2012 (OJ L 347, 28.12.2017, p. 35). ↩

Official text · consolidated version 17/01/2025 (no longer in force) Open full page ↗