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By Dr. Sebastiaan Niels Hooghiemstra(1)
Most provisions of Regulation (EU) 2019/2033 (the “Investment Firm Regulation” or “IFR”) and Directive (EU) 2019/2034 (the “Investment Firm Directive” or “IFD”) will be applicable as from 16 June 2021 onwards. The IFD and IFR amend the own capital requirements that are applicable to alternative investment fund managers (“AIFMs”) and UCITS management companies (“UCITS ManCos”), as well as, fund managers that provide “MiFID II add-on services”. This contribution discusses the applicability of the IFD and IFR to both AIFMs and UCITS ManCos.
1. Background
On 5 December 2019, the IFD and IFR were...
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