Alternative Investment Fund Managers Directive - On The Right Track?
Mondaq Business Briefing › United Kingdom Law Articles in English (2009)
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Alternative Investment Fund Managers Directive - On The Right Track?
On 12 and 25 November 2009 the Swedish Presidency issued compromise proposals to the draft of the Alternative Investment Fund Managers ("AIFM") Directive. This was produced after extensive input from the impacted industries, the competent authorities and finance ministries of the 27 Member States.
The Directive has come a long way in six months, as reflected in the compromise proposal, and progress has been made on key issues but material concerns remain, particularly on the recently introduced remuneration annex. The articles will no doubt continue to evolve within the "black box" that is European decision making but there are a few select messages to draw out of the latest draft. Originally, the European Commission submitted a proposed Directive on AIFM to the European Parliament and Council on 30 April 2009. Whilst the Directive enraged many in the industry and drew much adverse comment, the overriding principles to gather systematically important data, impose ...See the full content of this document
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