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EU Council Document: Proposal for a Directive of the European Parliament and of the Council on Alternative Investment Fund Managers - State of play

( March 1, 2010, 11:05 GMT | Official Statement) -- MLex Summary: European Union governments will escalate talks on regulation of hedge funds and buyout firms, after a staff working group couldn't find agreement. A blocking minority of governments object to exempting managers below an assets-under-management threshold, the secretariat to the council of governments said in a summary of last week's negotiations. Some states declined to accept a compromise that would permit entities other than banks and authorised investment firms to serve as depositories for a 4-year transitional period. A group of countries also "is strongly against" setting EU standards including reporting obligations for managers who market funds to professional investors within an individual member state, the memo said. The the discussions are being elevated to the committee of ambassadors from the 27 countries.Click the link below for the full document....

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