The Potential Impact of the Proposed Alternative Investment Fund Managers Directive on Investment Managers in EU and U.S.

September 30, 2009
The European Parliament and the Council of the European Union are currently considering the “Proposal for a Directive of the European Parliament and of the Council on Alternative Investment Fund Managers” (the “Directive”) published by the European Commission of the European Communities (the “European Commission”), the executive branch of the European Union (the “EU”), on April 30, 2009. The Directive sets out a supervisory framework for the regulation of alternative investment fund managers (“AIFMs”) based in the EU and the management and marketing of both EU and non-EU alternative investment funds (“AIFs”) within the EU.