Tuesday, September 8, 2009

Update: Council Presidency Publishes Note on EU AIFM Directive

On September 2, 2009, the Presidency of the Council of the European Union (the "Council") published a note on key issues to be addressed in the proposal for the Directive on Alternative Investment Fund Managers, the text of which was published in April this year. The Council Presidency prepared this note after initial working party meetings and comments received by EU Member States highlighted a number of issues in the current proposal. The note groups key issues into 10 broad topics, and suggests possible solutions that may advance the legislation. Issues of a technical drafting nature, and alignment with existing legislation, are not addressed in the note.