European Commission Proposes Regulation of Alternative Investment Fund Managers
By: Philip J. Morgan, Anna Paglia, Neil Nick Robson, Cary J. Meer, Mark D. Perlow
On 29 April 2009, the European Commission (the "Commission") of the European Union ("EU") published its much-anticipated "Proposal for a Directive of the European Parliament and of the Council on Alternative Investment Fund Managers" (the "Proposal" and the "Directive"). The Commission has indicated its desire to spearhead the world regulatory response to the current financial crisis, with the Proposal forming part of an ambitious Commission programme to extend appropriate regulation and oversight to all activities that the Commission considers present and/or create significant risks.
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