Thu, Mar 22, 2018
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

AIMA: version of Directive that has been agreed by EU finance ministers is considerable improvement but there are still concerns

Tuesday, October 19, 2010
Opalesque Industry Update - “AIMA, as the global hedge fund association, has engaged intensively and constructively with European and international policymakers on the Alternative Investment Fund Managers’ Directive since the original draft was published by the European Commission in spring 2009.

“At the time of the publication of that original draft, we stressed that we supported much of the Directive, particularly those provisions relating to transparency and involving the registration of managers and their reporting of systemic data to supervisors in the interests of financial stability assessment in line with the G20 consensus.

“However we also expressed grave reservations about some of its content. There were many provisions that would have negatively impacted both the alternative asset management industry globally and also European investors.

“Since then there has been considerable progress and a significant amount of ground has been covered. The text of the Directive that has now been agreed by European finance ministers is a considerable improvement not only for our members but in terms of its impact on European investors. We hope that the European Parliament will now take a constructive approach to the Council proposal.

“We do remain very concerned about the potential abolition of private placement regimes at a later date. Private placement works well and it would be a pity if because of the introduction of the passport, private placement had to go. It is regrettable that this Council agreement does not contain the indefinite continuation of private placement that was agreed in May.

“There is still much in the Directive that will be difficult to implement for the industry and there will be a heavy compliance burden that the industry will have to bear. But the impact will be far less severe than if something close to the original proposal had been passed.

“We recognise that this process is not yet complete. We will continue to provide input from the industry in the interests of a constructive and proportionate final outcome.”

Andrew Baker, CEO, AIMA

(press release)

As the global hedge fund association, AIMA, the Alternative Investment Management Association, has more than 1,200 corporate members (with over 4,800 individual contacts) worldwide, based in over 40 countries.

AIMA is a dynamic organisation that reflects its members’ interests and provides them with a vibrant global network. AIMA is committed to developing industry skills and education standards and is a co-founder of the Chartered Alternative Investment Analyst (CAIA) designation – the industry’s first and only specialised educational standard for alternative investment specialists. For further information, please visit AIMA’s website,


What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. John Paulson, once the industry's largest hedge fund, to return some investors' money[more]

    Komfie Manalo, Opalesque Asia: John Paulson is reported to be retuning some of his investors' money as a number of his hedge funds continue to suffer setbacks, reports

  2. SEC charges Theranos CEO Holmes with fraud[more]

    Bailey McCann, Opalesque New York: The SEC has charged Elizabeth Holmes, founder and CEO of Theranos and its former President Ramesh "Sunny" Balwani with raising more than $700 million from investors through an elaborate, years-long fraud in which they exaggerated or made false statements about t

  3. Institutional Investors - Overdrawn pension fund scores gains[more]

    From Investments in big banks, pawn shops and rolling papers helped boost public safety workers' underfunded pensions this past calendar years, according to newly released figures. After recording middling returns in recent years, the Police & Fire Pension Fund (P&F) notched

  4. Hot hedge fund loses 21% after bet on volatility goes wrong[more]

    From In December, Shahraab Ahmad shared with his hedge fund clients the principle that helped him trounce peers for two turbulent decades: steer clear of the crowd. He'd turned $50 million into an operation with more than $700 million over three years and delivered market-beating retu

  5. Opalesque Exclusive: Northern Trust builds on blockchain-backed private equity solution[more]

    Bailey McCann, Opalesque New York: Private equity clients at Northern Trust can now carry out audits of private equity lifecycle events directly from the blockchain. Northern Trust, working with PwC and other audit firms in Guernsey, has added this feature to its existing solution set for private