|
|
Benedicte Gravrand, Opalesque London:
At the EDHEC-Risk Alternative Investment conference in London yesterday, a panel of key figures from the regulatory scene and the alternative investment industry discussed the aims and birth-pains of the current regulatory overhaul, especially that of Europe's unpopular draft of the AIFM Directive, being currently redrawn.
Some of the issues that transpired were the difficulty to design an EU-wide rule in a globalised industry and to gather investment data across the 27-country bloc and monitor it, and the consequences of fund managers leaving the U.K.
Christopher Becher, policy officer at the European Commission (EC), said that Michael Barnier, the European Commissioner for the Internal Market and Services, was negotiating the AIFM Directive that very day in Brussels. Becher maintained that the collective hedge fund sector being able to contribute to general instability justified the coming regulations. That hedge fund managers should be regulated is an international consensus, including the likes of G20 and IOSCO. Furthermore, the EU would like to see a global approach to hedge fund regulation.
The EC sees the creation of a passport for single market for investors as positive. Also that investor protection should not be retail-style, but rather more targeted, keeping in mind that the investment community h...................... To view our full article Click here
|
|
RSS
