Abstract
In this paper, the author presents the results of empirical research on the regulatory framework of alternative investment funds in the European Union (EU). The paper first provides a historical overview of their regulation and a detailed analysis of the EU's Alternative Investment Fund Managers Directive (AIFMD) and other similar legal sources which further regulate areas of alternative investment funds. In the second part, the paper elaborates on the overall life cycle of an alternative investment fund, starting from the incorporation stage until its dissolution or liquidation. In an attempt to comprehensively observe the subject matter and expose the changes already driven by the new AIFMD, the paper also examines the potential effects which may be generated by implementing the business model where unqualified retail investors are regarded as qualified investors.
Published Version
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