On 21 July 2011, the Directive on Alternative Investment Funds Managers (the "AIFMD") entered into force. The AIFMD provides for far-reaching changes in the supervision of managers of all investment institutions other than undertakings for collective investment in transferable securities (UCITS). Please see our newsletter for more information on the AIFMD.
On Saturday 20 August 2011, the Ministry of Justice made available a consultation document on the draft legislative proposal that will implement the AIFMD in the Netherlands. The draft legislative proposal will amend the Dutch Financial Supervision Act, the Dutch Civil Code and the Dutch Economic Offences Act. The purpose of the consultation is to inform interested parties and to enable these parties to comment on the draft legislative proposal. The consultation is open until 30 September 2011 and is available through this link (in Dutch only).