The Irish department of finance has transposed the Alternative Investment Fund Managers Directive (AIFMD) into national law.
The regulations will give effect to the AIFMD in Irish law and will be supported by the release of Central Bank of Ireland’s AIF Rulebook and application forms.
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The AIFMD 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.
Kevin Murphy, chairperson of the Irish Funds Industry Association, said: "It represents the culmination of a co-ordinated effort between the Department of Finance, the Central Bank of Ireland and the IFIA to ensure that Ireland is AIFMD ready."
Michael Noonan, the minister for finance in Ireland, 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 funds".
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