AIFM withdrawal undermines EU rules

Author: | Published: 29 Mar 2010

The withdrawal of the Alternative Investment Funds Managers (AIFM) Directive from the agenda of Ecofin’s March 16 meeting has thrown its future into doubt, and undermined the EU's qualified majority rules.

The latest proposals, from the incumbent Spanish EU Presidency, reinstate plans to allow non-EU managers to market their funds in the EU, provided they meet minimum standards set by the Directive. This clause was previously removed by the Swedish Presidency during its six-month term last year.