Regulatory change is one of the biggest challenges for banks active in international financial markets. Since the financial crisis of 2008, regulators have tightened the regimes and the cost of ensuring compliance with new rules has increased the cost of doing business. Implementing new regulation is not a one-off exercise, as most frameworks demand that the addressees need to be compliant with defined requirements at any time. So, financial institutions are forced to (i) understand the parts of the regulations which are applicable to them, (ii) identify the legal entities which need to achieve compliance, (iii) initially implement all requirements into day-to-day operational processes and (iv) reassure compliance from time to time. Often regulations consist of more than a single document. Most EU directives for example are equipped with an Implementation Regulation and various Delegated Regulations developed by the EU Commission. In reality those documents contain a lot of duplication and not all provisions apply to the addressee (e.g. the AIFMD contains many rules for Competent Authorities and ESMA). The pure mass of regulatory text, the language used and the document structure prevents even industry insiders from understanding the content by just reading the documents. This book intends to filter out all AIFMD provisions applicable to AIFMs and to present them in a digestible form and structure. It might also serve Independent Control Functions within the financial industry like Compliance, Operational Risk Control, Business Risk Management Units and Internal and External Audit Units as a guide for examining post implementation reviews or topic-related analysis. The structure of this book will allow you to quickly identify your specific topic of interest. Each of the 10 chapters offers you an introduction to the topic, an overview of the applicable provisions and a summary of the most important rules.