Fri, Feb 27, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

AIMA: If EU diverges from G20 path on hedge fund regulation, it could fragment global markets

Thursday, April 22, 2010
Opalesque industry update - The European Union should not diverge from the path already set by the G20 on hedge fund regulation. Doing so could fragment global markets, create inconsistent regulatory requirements and result in international trade disputes. That’s according to the Alternative Investment Management Association (AIMA) – the global hedge fund industry association.

Andrew Baker, Chief Executive Officer of AIMA, said: “The G20 summits in Washington and London set the course for a new global regulatory framework for hedge funds and other private pools of capital. It is worth remembering just what world leaders did sign up to with regards to hedge funds. They agreed that all hedge fund managers should be registered and authorised by their national regulators, and that managers should report systemically relevant data to those regulators in the interests of financial stability. They concluded with an unambiguous declaration that they would not follow a protectionist path.

“While other members of the G20 have followed the agreed path, Europe’s Alternative Investment Fund Managers Directive is in danger of diverging from it through creating protectionist restrictions on non-EU funds and managers accessing EU investors, and by seeking to insert additional prescriptive product or fund-level regulation on issues like leverage and depositaries. None of this supports improved financial stability, which was the G20 goal. This potential divergence from the G20 path has caused significant concern globally.”

G20 Finance Ministers will meet on 22nd-23rd April in Washington DC. U.S. Treasury Secretary Timothy Geithner has written two letters on the AIFMD to European policymakers expressing his concerns that EU investors will be effectively barred from investing with non-EU hedge fund managers.

AIMA has also warned of a potential protectionist outcome from the Directive, saying that any restrictions imposed on European investors would also hit asset managers in financial centres such as the United States, Canada, Switzerland, Hong Kong, Singapore, Japan and Australia.

AIMA supports the goals of the G20 and the principle of increased transparency by the industry, including the reporting of systemically relevant data and the registration of hedge fund managers.


As the only truly representative global hedge fund association, AIMA, the Alternative Investment Management Association, has more than 1,100 corporate members (with over 4,500 individual contacts) worldwide, based in over 40 countries. www.aima.org.


Bg

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: Very small CTA averages 6.90% per month since April’14 inception[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: There aren’t many one-man shops around in the hedge fund world but we talked to one. Andrew S. Peskin, who is ba

  2. Investing - Top U.S. hedge funds cut Apple stakes ahead of all-time high, John Paulson holds gold ETF in Q4 but cuts back on some miners, Hedge funds exited tumbling oil company shares late last year, Some top investors exit Herbalife, Soros added shares in fourth quarter, Moore Capital boosts U.S. financial holdings, reduces China bets[more]

    Top U.S. hedge funds cut Apple stakes ahead of all-time high From Reuters.com: Top U.S. hedge fund management firms, including David Einhorn's Greenlight Capital and Philippe Laffont's Coatue Management, reduced their stakes in Apple Inc during the fourth quarter, ahead of the iPhone mak

  3. Opalesque Exclusive: Skënderbeg launches four single-manager funds with Your Wealth AG[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Skënderbeg Funds AGmvK, an investment fund for qualified investors under Liechtenstein law (umbrella fund),

  4. Opalesque Roundtable: Many Swiss investors are questioning the value proposition of hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva: There is a well-known transition among investors in hedge funds between high-net-worth individuals and institutional investors, Ian Hamilton, head of the IDS Group, said during the recent

  5. UCITS HFS Index starts year on positive note with 1.09% gains in January[more]

    Komfie Manalo, Opalesque Asia: The UCITS HFS Index started the year on a positive note gains of 1.09% in January after finishing 2014 with a modest performance of 1.62%. Index provider 2n20 said th