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Proposed EU Directive May Create New Burdens for Managers of Debt Funds and Their Advisers
26 June 2018
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EU Commission Proposal aimed at enhancing the secondary market for non-performing loans (NPLs) could bring along new obligations for funds and fund managers investing in EU loan receivables.
Despite its stated purpose, the proposed directive is not limited to NPLs, but applies to any loan issued by an EU credit institution (EU Loans).
New obligations include authorization, reporting and disclosure requirements for buyers and credit servicers of EU Loans.
Under the current draft, no exemption applies to AIFMD fund managers or MiFID investment firm.
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