Comment: AIFM Directive risks protectionism
Ronald Paterson, partner at international law firm Eversheds. comments on concern expressed by AIMA this week over the AIFM Directive.
The potential consequences of getting this directive wrong, range from the unthinkable - a trade war with the US - to the merely disastrous, such as a serious reduction in the investment opportunities and investment returns available to investing institutions in Europe, and/or a major exodus of fund management businesses and their revenues from the EU.
AIMA, together with other trade bodies such as the Association of Investment Company (AIC) and the British Private Equity & Venture Capital Association (BVCA) are doing an excellent job in highlighting the shortcomings of the AIFM Directive. It is crucial that European parliamentarians understand the full consequences of these proposals.
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