The EU's draft directive on alternative investment fund managers has been greeted with almost universal disapproval. While proportionate and prudent regulation of systemic risk is accepted as desirable by nearly all in the industry, the directive is seen as attempting to introduce a level of regulation that goes too far, fails to focus on systemic risk and in many aspects may, in fact, be counterproductive. Its one-size-fits-all approach and hasty construction have generated screeds of analysis and criticism from the industry, investors and regulators alike
February 24, 2010 at 07:04 PM
1 minute read
The original version of this story was published on Legalweek
The EU’s draft directive on alternative investment fund managers has been slated as overly strict by much of the legal industry. Paul Govier examines its effect on European investors looking outside the EU
“The strictest law often causes the most serious wrong” – Cicero
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