Alternative funds score EU victory

Article reports that alternative investment funds felt they had scored a victory September 2009, after Swedish diplomats recommended sweeping changes to controversial European Commission legislative proposals that would regulate the industry on an EU-wide basis for the first time.

Sweden holds the rotating EU Presidency and has a key role in hammering out agreed amendments amongst EU Member States during the remainder of this year.

Its 'issues paper' comes ahead of the first meeting of the Council Working Party on Financial Services (Alternative Investment Fund Managers) in Brussels on the 8 September 2009.

Website: Alternative Investment Management Association (AIMA) http://www.aima.org/

AIMA: AIMA’s campaign on the European Commission’s draft directive on Alternative Investment Fund Managers http://www.aima.org/en/directive-centre/index.cfm

ESO: Background information: MEPs pledge to change hedge fund proposals http://www.europeansources.info/record/meps-pledge-to-change-hedge-fund-proposals/

ESO: Background information: EU plans for hedge fund rules under fire / EU rules on hedge funds unlikely to end debate http://www.europeansources.info/record/eu-plans-for-hedge-fund-rules-under-fire-eu-rules-on-hedge-funds-unlikely-to-end-debate/

Sweden: EU Presidency: AIFM Proposal: Issues note by the Presidency, September 2009 http://register.consilium.europa.eu/pdf/en/09/st12/st12864.en09.pdf

European Commission: DG Internal Market and Services: Investment funds: Alternative investments http://ec.europa.eu/internal_market/investment/alternative_investments_en.htm

European Parliament: Legislative Observatory: Alternative Investment Fund Managers http://www.europarl.europa.eu/oeil/popups/ficheprocedure.do?id=577403

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