Jarkko Syyrilä, director of international relations at the Investment Management Association, says the asset management industry must mobilise itself to face the beginning of a regulatory crisis.
Syyrilä is warning against the draft Alternative Investment Fund Managers (AIFM) Directive, saying the 'one size fits all' approach does not work with differing fund structures in Europe. "Running an international asset management business from Europe is made very difficult if not impossible imposing European rules to the whole value chain," he said at an event in Luxembourg today. "Many provisions are copied from the Ucits Directive but made stricter, which makes no sense as AIFs (alternative investment funds) are funds for professionals." He added the decision by EU regulators to focu...
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