The Association of the Luxembourg Fund Industry – annual report 2009/10

The European Commission published its proposal for a directive on Alternative Investment Fund Managers (the AIFM Directive) at the end of April 2009. This proposal – which introduces harmonised requirements for entities engaged in the management and administration of alternative investment funds (AIFM) – is part of the ambitious Commission program to extend appropriate regulation and oversight to all actors and activities that embed significant risks.