Policy paper

Alternative Investment Fund Managers Regulation – Draft SI and Policy note

Draft legislation to reform the regulatory framework for Alternative Investment Fund managers, streamlining the regulation to support growth and tailoring for UK markets.

• From: HM Treasury
• Published: 14 July 2026

Documents

The Alternative Investment Fund Managers Regulations 2026 SI

PDF, 1.22 MB, 36 pages

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Draft Regulations for Alternative Investment Fund Managers: Policy Note

PDF, 277 KB, 22 pages

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Details

Alternative Investment Funds (AIFs), including hedge funds, private equity funds, and investment trusts, play an important role in growing the economy, by channelling investment to key growth sectors and providing long-term investment for projects such as infrastructure.

Industry feedback, including through HMT’s consultation in April 2025, has shown that there is an appetite to update the legislation governing the alternative asset management sector.

The government intends to simplify the regulatory framework for AIFMs, while retaining core consumer and market protections, and enabling the Financial Conduct Authority (FCA) to create a more proportionate and streamlined regime for fund managers. The majority of firms will be subject to more streamlined and proportionate requirements.

This technical consultation opens for comment upon publication on 14 July 2026.

The government welcomes any technical comments on the draft SI by 14 October 2026. Any comments should be provided to AIFMR@hmtreasury.gov.uk.

Published 14 July 2026