Hedge Fund Reform Moving Forward

The Council has adopted a mandate for negotiations with the European Parliament on a new draft directive aimed at introducing harmonised EU rules for entities managing alternative investment funds (AIFM), such as hedge funds and private equity funds.

One of the main issues that stand in the way of compromise is the rules for e hedge-fund managers outside the EU. The European Parliament proposes that a non-EU AIFM that wants to market its funds in the EU would have to voluntarily subject itself to the directive’s requirements.

Bloomberg quotes Michel Barnier, the EU’s financial services commissioner, saying that he would work with finance ministers and the Parliament to get “a dynamic compromise,” which keeps “the integrity of the internal market.”

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