Securities Law Updates | New Proposed Legislation
June 8, 2010
European Parliament Committee Approves Legislation Regulating Alternative Investment Funds
EP Economic and Monetary Affairs Committee Draft Legislation on Alternative Investment Funds
No. ________, 5/17/2010
The European Parliament (“EP”) Economic and Monetary Affairs Committee has approved a draft European Union (“EU”) law regulating managers of alternative investment funds, including hedge funds. Ministers of the EP (“MEP”) voted for new ways to deal with managers and funds located outside the EU, a proportionality system to regulate less risky funds more lightly, and rules on remuneration policies and short selling. They also made improvements to the directive’s transparency and risk reduction rules.
“This position will ensure better transparency and better investor protection while at the same time being on the side of the financial industry when it is…
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