Buzz Archive:
The Alternative lnvestment Fund Managers Directive - equivalence or protectionism?

by Simon Witney, Partner, SJ Berwin LLP, 11/24/2009

Many of you will be aware of the proposed "Alternative lnvestment Fund Managers Directive", which is currently making its way through the EU's legislative process, and which will ultimately be implemented in each of the EU's 27 Member States. There are various encouraging comments from some of the interested parties, but it is worth considering the potential impact of the current proposals on "third countries" - proposals that will impact every North American private equity and hedge fund manager (and those in a range of other asset classes) seeking investors in Europe unless the Directive is significantly revised in the coming months. The new rules would impose significant obstacles in the way of anyone wishing to manage or market private funds in Europe.

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