Home / DIRECTIVE 2011/61/EU (table of Contents)
ENACTING TERMS
Paragraphs 01 - 04
Paragraphs 05 - 11
Paragraphs 12 - 19
Paragraphs 20 - 27
Paragraphs 28 - 35
Paragraphs 36 - 45
Paragraphs 46 - 52
Paragraphs 53 - 58
Paragraphs 59 - 64
Paragraphs 65 - 71
Paragraphs 72 - 79
Paragraphs 80 - 84
Paragraphs 85 - 91
Paragraphs 92 - 95
CHAPTER 1 - GENERAL PROVISIONS
Article 1 - Subject matter
Article 2 - Scope
Article 3 - Exceptions
Article 4 - Definitions
Article 5 - Determination of the AIFM
CHAPTER 2 - 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 3 - 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
Article 18 - General principles
Article 19 - Valuation
Section 3 - Delegation of AIFM functions
Article 20 - Delegation
Section 4 - Depositary
Article 21 - Depositary
CHAPTER 4 - TRANSPARENCY REQUIREMENTS
Article 22 - Annual Report
Article 23 - Disclosure to investors
Article 24 - Reporting obligations to competent authorities
CHAPTER 5 - 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 6 - 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 7 - 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 8 - MARKETING TO RETAIL INVESTORS
Article 43 - Marketing of AIFs by AIFMs to retail investors
CHAPTER 9 - 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 10 - 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 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 1
ANNEX 2 - REMUNERATION POLICY
ANNEX 3 - DOCUMENTATION AND INFORMATION TO BE PROVIDED IN CASE OF INTENDED MARKETING IN THE HOME MEMBER STATE OF THE AIFM
ANNEX 4 - DOCUMENTATION AND INFORMATION TO BE PROVIDED IN THE CASE OF INTENDED MARKETING IN MEMBER STATES OTHER THAN THE HOME MEMBER STATE OF THE AIFM