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AIFMD timeline

The timeline below outlines the key dates in the run up to the Directive.

Date* Action
16 November 2011 ESMA published 'Level 2' advice to the EC
Early 2012* EC to consult / publish final supplementary legislation based on ESMA’s 'Level 2' advice
22 July 2013 Directive must be implemented in national domestic legislation
22 July 2014 AIFMs must submit an application for authorisation to their relevant competent authority
22 July 2015 ESMA must issue an opinion as to whether to ‘turn on’ the EU passport for 3rd country AIFMs / AIFs
22 October 2015 Depending on the recommendation by ESMA the EC may ‘turn on’ the EU passport for 3rd Country AIFMs / AIFs
22 July 2017 EC starts a review of the Directive – AIFMDII (version 2)
22 October 2018 ESMA must issue an opinion as to whether to ‘turn off’ domestic private placement regimes
22 January 2019 Depending on the recommendation by ESMA the EC may ‘turn off’ private placement

* Estimated date

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