AIFMD 2 – Key Changes and Implementation
Course description
SPECIAL SUMMER OFFER – REGISTER BY 1 SEP & SAVE £200!
Get ready for the Changes under AIFMD2. Join our practical 1 day virtual course conducted by senior market expert to learn about they key components of AIFMD 2 and how to best prepare for the upcoming changes.
The Alternative Investment Fund Managers Directive (AIFMD) has been a cornerstone of EU financial regulation since its implementation in 2013, establishing a harmonised framework for the management and marketing of alternative investment funds (AIFs). With the advent of AIFMD 2, coming in April 2026, the EU has introduced significant amendments to address gaps, enhance investor protection, and align the regime with evolving market practices.
This workshop provides a comprehensive deep dive into AIFMD 2, equipping asset managers, private bankers, and hedge fund professionals with the knowledge to navigate the revised regulatory landscape.
Key updates build upon a decade of AIFMD implementation, including stricter rules on delegation, enhanced liquidity risk management, and more granular reporting requirements.
Firms must now reassess their operational models, particularly in areas like loan origination, depositaries, and cross-border marketing, to ensure compliance. The session will also explore the directive’s interplay with other regulations, such as the Sustainable Finance Disclosure Regulation (SFDR) and MiFID II, ensuring a holistic understanding of the compliance burden. Whether you are a compliance officer, portfolio manager, or risk specialist, this workshop will clarify the directive’s implications and prepare your organization for seamless adaptation.
What will you learn
By attending this practical 1 day course you will:
- Gain detailed knowledge of AIFMD 2 amendments and their implications on market participants
- Assess the impact on fund structures, reporting, and operational processes
- Understand new reporting and disclosure requirements
- Be able to assess delegation and liquidity management rules
- Identify compliance challenges for market participants
- Explore how to enhance risk management and governance frameworks
- Prepare for implementation and future regulatory developments
- Gain insights into supervisory expectations and enforcement risks
- Learn strategies for adapting business models to remain compliant
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You may be also interested in one of the following programmes:
- UCITS Funds
- Investment Performance Measurement, Attribution and Risk
- Compliance & Regulatory Reporting for MIFIR & EMIR
- IFPR & ICARA
- CoRep, FinRep & Capital Adequacy
- Regulations & Operational Compliance for Funds
Book for any 2 public courses at the same time and save £100 (in total, not per course).
Main topics covered during this training
- Recap of AIFMD 1: Key provisions and shortcomings
- Authorisation and operating conditions for AIFMs
- Scope and timelines of AIFMD 2
- Interaction with other regulations (UCITS, MiFID, SFDR)
- Depositary roles and responsibilities under AIFMD 2
- Liquidity risk management and leverage limits
- Marketing and pre-marketing rules
- Key AIFMD 2 Changes – delegation and substance requirements, enhanced supervisory reporting, liquidity management tools (LMTs), loan origination funds, new restrictions and due diligence, harmonisation of depositaries and investor disclosure rules
- Considerations for Market Practitioners: operational impacts, compliance challenges, Investor protection and disclosure enhancement, managing liquidity risks under new LMT rules, Adjusting governance and internal controls
- Reporting and Delegation Arrangements
- Systems & Controls
- Horizon Scanning & Next Steps
- Future EU regulatory trends affecting alternative investments
- Action plan for firms: Compliance roadmap
Who should attend
The course is relevant for Managers and Team Members from the Asset and Fund Management, Investment Banking, Hedge Funds and Institutional Investors with the following background:
- Funds Management
- Investment Management
- Fund Administration
- Portfolio Management
- Structuring
- Risk Management
- Lawyers
AIFMD 2 - Key Changes and Implementation - A 1 Day Course
Background and Scope
- Recap of AIFMD 1: Key provisions and shortcomings
- ESMA’s review and European Commission’s amendments
- Scope of AIFMD 2: Which entities and activities are covered?
- Interaction with other regulations (UCITS, MiFID, SFDR)
- Timeline for implementation and transitional provisions
AIFMD and AIFMD 2 Concepts
- Definition of AIFs and AIFMs under the revised framework
- Authorisation and operating conditions for AIFMs
- Depositary roles and responsibilities under AIFMD 2
- Liquidity risk management and leverage limits
- Marketing and pre-marketing rules
Key AIFMD 2 Changes
- Stricter delegation and substance requirements
- Enhanced supervisory reporting (Annex IV updates)
- New rules on liquidity management tools (LMTs)
- Loan origination funds: New restrictions and due diligence
- Harmonisation of depositaries and investor disclosure rules
Considerations for Market Practitioners
- Operational impacts on fund structuring and distribution
- Compliance challenges for third-country AIFMs
- Investor protection and disclosure enhancements
- Managing liquidity risks under new LMT rules
- Adjusting governance and internal controls
Reporting and Delegation Arrangements
- Revised Annex IV reporting requirements
- ESMA’s guidelines on delegation and substance
- Monitoring and oversight of delegates (investment & operational)
- Regulatory expectations for risk retention
- Data quality and automation challenges
Systems & Controls
- Strengthening risk management frameworks
- IT and data infrastructure for regulatory reporting
- Internal audit and compliance monitoring
- Conflicts of interest policies under AIFMD 2
- Business continuity and cybersecurity considerations
Horizon Scanning & Next Steps
- Expected timelines for national transposition
- Pending ESMA guidelines and regulatory technical standards
- Future EU regulatory trends affecting alternative investments
- Preparing for supervisory audits and inspections
- Action plan for firms: Compliance roadmap
Trainer
The trainer is an industry advisor and regulatory expert with over 20 years of experience in investment banking, asset management regulations and Regulatory Technology (RegTech). He is an industry expert in Financial Regulation and covers all the key banking and finance regulations across US, EMEA and APAC including MIFID II, EMIR, CASS, AIFMD, UCITS, SFTR, IFR/IFD, Dodd Frank, FINMA (SIX), HKMA MAS and SFC, IBOR Transitions, SMCR, and ESG Regulations such as SFDR.
He combines experience in strategic regulatory technology with processes and platform management incorporating risk and governance policies.
His recent key engagements include banks such as HSBC, Deutsche Bank, JP Morgan and Barclays and buy side firms such as T. Rowe Price, Ruffer, M&G and Investec Asset Management, to name a few. He is also a member and advisor of industry association committees for regulatory consultations with bodies such as ESMA, FCA, PRA/Bank of England and SEC.
FAQ
We offer banking and finance courses as well as soft skills and business management training. You can either attend an open public course in London or Dubai or arrange customised in-house training to be delivered in any of your offices worldwide.
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If you attend one of our courses you will be entitled to a special discount for a year after the last course you attend with us. Also, if you have attended and recommended us to a friend, both you and your friend will receive a special discount. You will receive more information about it after you attend the course.
See our Customer Loyalty Discounts page for more details.
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For Delegates coming from the EU countries
If you represent a registered business in another EU country, you can use the Refund Scheme to reclaim VAT you pay in the UK as long as all of the following apply:
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You can find some more information here. In order to claim the VAT you have to fill Form 65.
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If the following rules apply to you, please fill the 65A form and send it to HMRC.
Webinars
You can cancel your participation up to a month before the course and receive a refund minus 10% of the full course value. Between 2-4 weeks before the course you will be charged 50% cancellation fee and if you cancel less than 2 weeks before the course you can only offer your place to a colleague. Up to 2 weeks before the course you can reregister for another edition for 10% reregistration fee if there is another webinar offered or you can rebook for a course in London by paying the difference in price plus 10% reregistration fee.
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If there is any official travel restriction or difficulty related to the COVID pandemic around the time of the course we will convert the training into a webinar or offer to attend the next classroom edition at no extra cost.
If you are unable to attend the course, you can either send a replacement at no extra charge or, up to 10 days before the training, you can transfer your booking to another edition within the next 6 months paying administrative fee of 20% of the full course price. For any cancellation requests received between 11 days and 4 weeks from the course we offer 50% refund or reregistration to another edition for 25% of the value of the booking. For any cancellation requests received more than 4 weeks before the course date we will offer a refund less an administration fee of 10% of the full course price.
Cancellations must be made in writing (letter or email) and reach our office four weeks prior to the course date. We regret that only limited refunds can be given after this period as per points above. Non-attendance without any notification will be charged at full rate. Your place on a course is not guaranteed until we receive the payment. All payments must be made in full before the course date.
All our trainers have been working for many years in their respective sectors before they begun to teach so they bring a wealth of practical experience to the classroom.
Most of them used to work for 15 or more years in the financial sector and corporate world, and were holding positions of Directors, VP and Senior Managers. Some of them have published books and have written articles for specialised magazines and newspapers including FT, The Independent, The Times etc. You can find detailed biography of each trainer on the page of the course you want to register for.
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16 Oct 2026, Online / Virtual
Register by 01 Sep to save £200
Early bird price £895 + VAT
Regular price £1095 + VAT
5% discount for 2 & 10% for 3 people. There is no VAT charge for companies based outside of the UK and individuals based outside of the EU.
15 Dec 2026, Online / Virtual
Register by 01 Sep to save £200
Early bird price £895 + VAT
Regular price £1095 + VAT
5% discount for 2 & 10% for 3 people. There is no VAT charge for companies based outside of the UK and individuals based outside of the EU.
This topic can be arranged on in-house basis. If you have a group of 4 or more we can customise it and deliver in any location worldwide. Contact us to discuss your requirements
