Brussels agrees hedge fund rules

Tough rules for hedge funds and private equity funds were agreed in Brussels on the 26 October 2010 after interinstitutional negotiations (Trialogue), ending almost two years of heavy industry lobbying and bruising political negotiations.

European Parliament and Council negotiators overcame the final major hurdles to an agreement on the alternative investment fund managers directive. Parliament succeeded in pushing through new chapters on asset stripping and remuneration principles, as well as strongly influencing the rules on the passporting system, depositary liability, capital requirements, and use of leverage.

ESO: Background information: EU agrees tougher rules for hedge funds http://www.europeansources.info/record/eu-agrees-tougher-rules-for-hedge-funds/

European Parliament: Press Release, 26.10.10: Parliament sees its priorities through on hedge funds directive http://www.europarl.europa.eu/en/pressroom/content/20101025IPR90066

European Commission: Memo/10/573: European Commission statement at the occasion of the European Parliament vote on the directive on hedge funds and private equity http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/10/573&format=HTML&aged=0&language=EN&guiLanguage=en

European Commission: Memo/10/572: Directive on Alternative Investment Fund Managers (‘AIFMD’): Frequently Asked Questions http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/10/572&format=HTML&aged=0&language=EN&guiLanguage=en

Council of the European Union: Proposal for a Directive of the European Parliament and of the Council on Alternative Investment Fund Managers and amending directives 2003/41/EC and 2009/65/EC - Text agreed in the trilogue on 26 October 2010 http://register.consilium.europa.eu/pdf/en/10/st15/st15053-re01.en10.pdf

EurActiv, 27.10.10: EU agrees 'imperfect' deal to regulate hedge funds http://www.euractiv.com/euro-finance/eu-agrees-imperfect-deal-regulat-news-499194

European Commission: DG Internal Market and Services: Investment funds: Alternative investments http://ec.europa.eu/internal_market/investment/alternative_investments_en.htm

Deutsche Welle, 26.10.10: European Union agrees on new rules to control hedge fund managers http://www.dw-world.de/dw/article/0,,6152669,00.html

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