The AIFM Directive has reached a critical point in the Council and the European Parliament. The Spanish Presidency has taken a protectionism approach in contrast with the previous Swedish Presidency which was more industry-friendly. Next week the EP will debate the proposed amendments.
The AIFM Directive has reached a critical point in the Council as well as in the European Parliament. The Spanish Presidency has taken a protectionism approach in contrast with the previous Swedish Presidency which was more industry-friendly. Next week the EP will debate the proposed amendments.
Around €2 trillion in assets are currently managed by AIFMs employing a variety of investment techniques, investing in different asset markets and catering to different investor populations. The sector includes hedge funds and private equity, as well as real estate funds, commodity funds, infrastructure funds and other types of institutional funds.
The AIFMD forms part of an ambitious Commission programme to extend appropriate regulation and oversight to all actors and activities with significant risks. The proposed legislation will introduce harmonised requirements for entities engaged in the management and administration of AIFMs The need for closer regulatory engagement with this sector has been highlighted by the European Parliament and by the High-Level Group on Financial Supervision chaired by Jacques de Larosière. It is also the subject of ongoing discussion at international level, for example, through the work of the G20.
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