Regulation of EU Private Equity and Hedge Fund Managers Ahead – But Not Any Time Soon

1 May 2009
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Yesterday, the European Commission unveiled its keenly awaited draft proposal of a Directive on Alternative Investment Fund Managers.  The attached client update summarizes the main elements of the draft Directive which would introduce far-reaching licensing and reporting requirements for EU-domiciled managers of alternative investment funds.  Once considered and approved by the European Council and the European Parliament, the Directive will enter into force, but likely not before 2011.