Wednesday, March 18, 2009

EU to Propose Directive on Private Investment Vehicles

As reported by Reuters, the European Commission will propose a directive aimed at hedge funds and private equity firms in order to enhance EU-wide regulatory oversight of the industry. The proposed directive should be published on April 21, 2009, and is also expected to address remuneration policies in the financial sector. An EU directive is a legislative act intended to align national legislation, as it is binding on member states as to the result to be achieved but leaves them the choice of the form and method they adopt to implement the directive's objective within the framework of their internal legal order.