The European Parliament has reached an agreement on the Directive on Alternative Investment Funds Managers (AIFM). The final step is now formal approval by the Council which should happen in the next few weeks. The Directive should come into force in early 2011 and be transposed into national law and applied by Member States by 2013.
The adoption of the directive means that hedge funds and private equity will no longer operate in a regulatory void outside the scope of supervisors. The new regime brings transparency and security to the way these funds are managed and operate, which adds to the overall stability of our financial system.
The details of the directive are available here.
No comments:
Post a Comment