AIFMD
EU framework governing managers of alternative investment funds, including authorization, risk, liquidity, disclosure, depositary, and marketing duties.
EU investment regulation covering MiFID II and MiFIR, their historical predecessors, market-abuse controls, and alternative-fund manager rules.
EU investment regulation includes interconnected rules for investment-firm authorization, client conduct, trading venues, market transparency, transaction reporting, market abuse, and alternative investment fund managers. The governing rule depends on the entity, service, instrument, client, jurisdiction, and date; “EU regulated” is not a complete compliance conclusion.
Start with MiFID and MiFID II for the current investment-services framework and its relationship with MiFIR. Use the Investment Services Directive only for historical analysis before MiFID replaced it.
| Rule family | Primary question |
|---|---|
| MiFID and MiFID II | How are investment services, client protections, trading venues, transparency, reporting, and passporting regulated? |
| Investment Services Directive | What authorization and mutual-recognition framework applied before MiFID I? |
| Market Abuse Regulation | Do insider dealing, unlawful disclosure, manipulation, issuer disclosure, or market-sounding rules apply? |
| Alternative Investment Fund Managers Directive | Does an alternative-fund manager face authorization, risk, disclosure, depositary, or marketing requirements? |
Common mistakes include treating directives and regulations as interchangeable, assuming passporting is a blanket license, applying current rules to a historical event without checking dates, or inferring investment safety from regulatory status. These pages provide general education, not legal, compliance, licensing, tax, accounting, or investment advice.
Choose a subsection first. Deeper term pages live inside each subsection, which keeps large topic hubs readable.
EU framework governing managers of alternative investment funds, including authorization, risk, liquidity, disclosure, depositary, and marketing duties.
The 1993 Investment Services Directive created an early EU authorization and passporting framework for investment firms before MiFID replaced it.
Market Abuse Regulation is an EU rulebook targeting insider dealing, unlawful disclosure, and market manipulation.
MiFID II is the EU directive governing investment firms and regulated markets alongside MiFIR rules for transparency and transaction reporting.