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Home > PE News > By Type > Firm

AIFM ruling delayed until September AIFM ruling delayed until September

25 Jun 2010. Source: AltAssets
A decision on controversial new regulations for private equity firms in the European Union has been delayed until September after decision-makers failed to reach an agreement, according to reports.

Despite EU financial services commissioner Michel Barnier pledging to conclude talks on the Alternative Investment Fund Manager proposals by the end of this month, the bloc’s Parliament, along with individual member state governments, failed to reach an accord in time.

The news will be welcomed by the UK, which is the EU hub for private equity and hedge funds, along with US Treasury Secretary Tim Geithner, who wrote to Barnier in March to raise concerns about the measures discriminating against US funds. Numerous trade associations, institutional investors and pension funds have also spoken out publicly against the directive.

Agreements still reportedly need to be made on how much information must be disclosed by private equity firms, marketing rules and on the “passports” which will allow firms to operate throughout the region.

The decision has been postponed until full parliament reconvenes in September.

Copyright © 2010 AltAssets


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