•  
• Tweet
•  
•        Print
•  
•         Track Keywords
•  
• 

By Benedicte Gravrand, Opalesque London:

Debate on the European Commission's draft Directive on Alternative Investment Fund Managers (AIFM) is still raging. There have not been any concrete amendments to the Directive - despite the thousands of proposals and the intense lobbying taking place in Brussels. And the voting date is coming soon (see July Opalesque Exclusive).

AIMA's latest move on the Directive Today, the Alternative Investment Management Association (AIMA), the global hedge fund industry association, signalled a new phase of engagement with European policymakers on the EC'S AIFM Directive.

AIMA said it welcomes the parts of the Directive which relate to the G20 process, such as the reporting of systemically relevant data by managers to their national supervisors in the interests of financial stability, and the registration and authorisation of managers. But the association argues that there are other elements of the Directive - such as those relating to leverage, depositaries and marketing among others - which have been poorly drafted and which will have many unintended and potentially damaging consequences.

"We also think it's important that the policymakers looking at the Directive take their time to ensure that it's properly thought through and are informed by a European-wide impact assess......................

To view our full article Click here