Overview

In April 2009, the European Commission published a draft directive on the regulation of alternative investment fund managers as part of its program to extend appropriate regulation to all “actors and activities that embed “significant risk” following the recent financial crisis.

The directive is intended to create a harmonized, comprehensive and effective framework for the authorisation and supervision of alternative investment fund managers established in the EU who are not already covered by existing EU legislation and therefore covers, among others, hedge fund and private equity fund managers. It also seeks to apply to fund managers established outside the EU when marketing funds within the EU.

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