Tue, Jun 30, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

European hedge fund regulation (AIFM) clears another hurdle with vote of approval by European Parliament

Tuesday, October 26, 2010
Opalesque Industry Update – The long road to strict hedge fund regulation in the European Union took another step towards being realized with the Tuesday morning vote of approval for the final text of Alternative Investment Fund Managers Directive (AIFM) by the European Parliament.

In two weeks (November 11, Strasbourg), the text that received approval today will be voted upon at the European parliament plenary session. That approval is expected to be granted and then the clock will start ticking for European member states to incorporate the directive’s rules into their own national laws (a two year time frame).

The passport requirements for hedge funds not domiciled within the EU has been and continues to be of concern to managers globally.

“The Alternative Investment Fund Managers (AIFM) directive is clearly going to have an impact on third country managers and on European managers who are delegating to Asia- based managers. This has already happened a lot for funds with Asian strategies for which it is necessary to have a manager here on the ground. It is also going to impact on the domiciles of funds that are going to be marketed in Europe going forward,” Anne Marie Godfrey, Partner in international law firm Bingham McCutchen’s Investment Management Practice Group, said during the most recent Opalesque Roundtable in Hong Kong.

The Alternative Investment Management Association (AIMA) has set up a special area of their site with updates regarding the AIFM. The representative body has signaled that the AIFM text is a significant approval from its original, but AIMA still has reservations regarding the directive, specifically the “potential abolition of private placement regimes at a later date”.

The body also says that it will specifically hurt US hedge funds ability to market to European hedge fund investors.

kb

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. Opalesque Exclusive: New systematic strategy managed alongside research firm outperforms S&P500[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: An emerging CTA manager explains how he runs his strategy, which is based on an index produced by a research firm. Peter Turk is head of

  2. Hedge funds panic over Greece[more]

    Komfie Manalo, Opalesque Asia: Some investors are in panic mode as Greek Prime Minister Alexis Tsipras announced Sunday night that the banks and the stock market would be closed Monday, said

  3. Alternative investment industry could grow to $13.6tln in five years[more]

    Komfie Manalo, Opalesque Asia: Leading auditing and advisory group PwC said that the global alternative investment industry, which includes hedge funds, private equity and real assets, is set to increase to $13.6tln within the next five years. "Be

  4. Qbasis gets $200m-plus investment in 'black swan' hedge fund[more]

    From Reuters.com: A hedge fund that more than doubled clients' money during the 2008 financial crisis has attracted more than $200 million from an investor aiming to cash in on fresh ructions in global markets. Qbasis Invest has secured the investment from Britain's Omada Capital, Florian Wagner, wh

  5. Outlook - Jim Rogers: Turmoil is coming[more]

    From Peakprosperity.com: Two years since his last interview with us, investor Jim Rogers returns and notes that the risks he warned of last time have only gotten worse. In this week's podcast, Jim shares his rational for predicting: increased wealth confiscation by the central planners

 

banner