The withdrawal of the Alternative Investment Funds Managers
(AIFM) Directive from the agenda of Ecofins 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.