AIFMD’s Passage and Its Implications On Derivatives Regulation

November 15, 2010

After more than a year of political and legislative wrangling over the Alternative Investment Fund Managers Directive (“AIFMD”), the EU Parliament finally adopted the Directive in its plenary session last week by a vote of 513 to 92 with 3 abstentions. This brings the regulation of a broad range of funds (hedge funds, private equity, real estate, microfinance) one step closer to implementation. There remains a degree of uncertainty as ESMA – the new EU financial super-regulator, the EU Commission, and EU member states will need to work through important implementation guidelines from now until the effective date of 2013.

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