Ireland becomes first jurisdiction to accept AIFMD applications

Ireland has become the first jurisdiction to begin accepting applications for the authorization of alternative investment fund managers, which will enable them to use the Alternative Investment Fund Managers’ Directive (AIFMD) passport from 22 July of this year.

The Irish Regulator last week published the AIF Rulebook, application forms and a Q&A document which provides guidance on exactly what firms must do by July 2013, what they may do during the transitional period between July 2013 and July 2014 and how they can plan for achieving AIFMD compliance while maintaining the continuity of their business in the interim.