Indian Regulator Releases Draft Framework for the Regulation of Alternative Investment Funds
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- On August 1, 2011, the Securities and Exchange Board of India released its proposals for a comprehensive framework for the regulation of alternative investment funds (the "AIF Regulations").
- The AIF Regulations are a significant step towards comprehensive regulation of the Indian alternative investment funds market.
- The objective of the AIF Regulations is to create an overarching regulatory umbrella setting out certain conditions that apply to all alternative investment funds and, in addition, a specific regime for certain identified investment strategies.
- The AIF Regulations do not appear to affect funds organised outside India without any Indian investors.