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Proposal for a DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on Alternative Investment Fund Managers and amending Directives 2004/39/EC and 2009/…/EC

Abstract

In order to ensure that all AIFM operating in the European Union are subject to effective supervision and oversight, the proposed Directive introduces a legally binding authorisation and supervisory regime for all AIFM managing AIF in the European Union. The regime will apply irrespective of the legal domicile of the AIF managed. For reasons of proportionality, the Directive will not apply to AIFM managing portfolios of AIF with less than €100 million of assets or of less than €500 million, in case of AIFM managing only AIF which are not leveraged and which do not grant investors redemption rights during a period of five years following the date of constitution of each AIF.

Process

Commission Status

30/04/2009
Proposal Adopted by European Commission
Next Action: TBA

EU Parliament Status

30/04/2009
Received from Commission
Next Action: Will be allocated to relevant Parliamentary Committee(s)

Council Status

30/04/2009 Received from Commission
Next Action: TBA

Additional Comments

None

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