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EU legislators bow to demands on AIFMD
02 May 2012
As the European Commission succumbs to pressure from
MEPs and the industry over issues in the new draft AIFM
directive, Stephanie Baxter asks what this now means
Read more:
European Commission
AIFMD
The alternative funds industry can breathe a sigh of relief now that the European Commission (EC) has promised to take another look at some of the concerns over the Alternative Investment Fund Managers (AIFM) directive.
This is a significant development for hedge funds, private equity funds and service providers after it seemed unlikely a few weeks ago the EC would address these issues when Michel Barnier, EU commissioner for the finance market, publicly criticised the industry for indulging in “rearguard lobbying”. Industry participants applauded the EC’s decision and said it is all about protecting investors’ best interests.
Justin Partington, commercial director at fund administrator IPES, says it is time to move forward: “At the end of the day we all have to put aside political issues and focus on achieving something worthwhile.”
It all started with a leaked version of the EC’s new draft proposal for level two implementing...
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