The European Commission is ignoring proper process and
rushing knee-jerk regulation through the legislature. The draft
directive regulating the alternative investment industry will
lose effectiveness as a result.
The broad regulation agenda has been dropped very
quickly. The idea was that there would be an initial
consultation, then a consultation on how best to proceed and
then legislation, said Christopher Bates, partner at
Clifford Chance on a panel at the IFLR Financial Regulation and
Capital Markets Forum...