Organizations will be forced to implement significant changes to their capital, clients, business operations and regulatory compliance and reporting very quickly, with hard deadlines looming on the horizon. The stakes are high on several key fronts, including risk mitigation, competition and profitability. Those firms that have not already conducted an in-depth inmpact analysis of the AIFMD for their business would be well advised to do so without delay, as the business implications are significant, the amount of work to be done is substantial and the timelines for preparation are becoming increasingly short.