The new proposal by the European Commission for a Directive on Alternative Investment Fund Managers (AIFM) aims at an ‘all encompassing’ approach so as to ensure that no significant AIFM escapes effective regulation and oversight. the Directive will only apply to those AIFM managing a portfolio of more than 100 million euros.
Now, the French minister of finance, Mme. Christine Lagarde, has already criticized the draft as “the Trojan Horse of offshore funds”.
It may all mean that the proposal is indeed quite adequate.