Thu, Oct 2, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

IMS Group welcomes AIMA’s reminder to ESMA that investors will pay the costs of AIFMD implementation

Wednesday, September 21, 2011

Peter Moore
Opalesque Industry Update - The Alternative Investment Management Association (AIMA), the global hedge fund association, recently responded to a consultation by the European Securities and Markets Authority (ESMA) on how the Alternative Investment Fund Managers Directive (AIFMD) should be implemented.

Peter Moore, head of regulation & compliance for the IMS Group, comments on the suggestions made by AIMA:

“AIMA’s economic impact assessment of AIFMD implementation is an informed and timely reminder about the costs of regulatory change and that such costs are ultimately passed on to end-users which in the case of AIFMD are fund investors.

“All regulatory developments carry a cost. However, any new regulatory requirement should be directed towards an identified market failing and formulated upon an analysis that the benefits accruing from the new rules outweigh the costs of their implementation. The absence of an EU commissioned cost/benefit analysis at any stage of AIFMD’s development serves up one of the best examples of political interference with the regulatory environment. The mere perception that alternative funds presented systemic risk carried the day, on both sides of the Atlantic. Those perceptions are now adding to the cost of investing.

“While policy makers let industry participants and their customers down when they do not perform cost/benefit analysis and do not strive for consistency across regulatory regimes, industry participants can partially mitigate some of the costs of regulatory change by looking for synergy and efficiency in the systems and controls they have to meet the requirements imposed on them.” Corporate website: Source

- FG

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   

Banner

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. Legal - Court throws out lawsuits related to Fannie Mae, Freddie Mac profits, Insider case by SEC is a step removed from Herbalife itself, SEC grants Citigroup waivers, easing hedge-fund curbs[more]

    Court throws out lawsuits related to Fannie Mae, Freddie Mac profits From WSJ.com: A group of Wall Street investors on Tuesday suffered a blow in their attempts to sue the federal government over their treatment of the shareholders of mortgage finance giants Fannie Mae and Freddie Mac af

  2. Launches - Goldman Sachs Asset Management launches GS Long Short Fund, Western & Southern launching international hedge fund, Lansdowne Partners plans energy hedge fund, RBC Global Asset Management launches new RBC Funds (Lux) - Asia Ex-Japan Fund, PVE Capital latest credit strategy to launch on the Sciens managed account platform[more]

    Goldman Sachs Asset Management launches GS Long Short Fund From Marketwatch.com: Goldman Sachs Asset Management has announced the launch of the Goldman Sachs Long Short Fund, which pursues high conviction investment ideas in global equity markets through a fundamental, bottom-up approach

  3. CalPERS’ move might alter hedge fund fees for good[more]

    Benedicte Gravrand, Opalesque Geneva: When CalPERS, the California Public Employees’ Retirement System, announced on September 15th that it was unwinding its hedge-fund portfolio, it was seen by many as is a significant blow to the sector’s appeal. The Fund is

  4. Opalesque Exclusive: Institutions eye private credit over traditional fixed income[more]

    Bailey McCann, Opalesque New York: Investing in private insurance, realty tax receivables, or investment-grade short-term accounts receivable may not spring to mind as a means of mitigating risk in a portfolio, but one firm, New York-based BroadRiver Asset Management is out to change all that. Th

  5. Short-term trading quant fund beats S&P since '09[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: A relatively new multi-strategy, market-neutral quantitative hedge fund has managed to outperform the S&P500 and the HFRX Global since 2009. New Jersey-ba