On 23 November 2023, the UK Parliament published the Alternative Investment Fund Designation Bill, which has been introduced to Parliament.
This is Private Member’s Bill, intended to amend the Alternative Investment Fund Managers Regulations 2013 (which implemented the Alternative Investment Fund Managers Directive in the UK) to remove listed investment companies from Alternative Investment Fund designation, make related changes to other relevant legislation and for connected purposes.
The removal of listed companies from the Alternative Investment Fund Managers Regulation 2013 also removes unnecessary reporting requirements, recognising that the listing requirements and requirements in the Companies Act 2006 already provide substantial transparency.
The Bill had its first reading in the House of Lords on 22 November 2023. The second reading is yet to be scheduled.