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Minister for Finance makes regulations to give effect to the Alternative Investment Fund Managers Directive (AIFMD).
The Minister for Finance, Mr. Michael Noonan, T.D., last night [16 July, 2013 ] signed into law the European Union (Alternative Investment Fund Managers) Regulations 2013 (No. 257 of 2013).
The Regulations give effect to the Alternative Investment Fund Managers Directive in Irish law and are supplemented by the Central Bank of Ireland’s AIF Rulebook which was published in May. The Directive establishes new rules governing the managers of alternative investment funds, including hedge funds, to ensure improved corporate governance and greater transparency in the management of alternative investment funds.
Speaking today the Minister for Finance said,
“This is a significant moment for the Irish funds industry and demonstrates to the world that Ireland takes seriously its reputation as the domicile of choice for alternative investment”.