BVCA publishes AIFMD lessons briefing: BVCA has published a report it commissioned from King's College, London on lessons learnt from the negotiation of the AIFMD. Among the key recommendations are that the UK should have a permanent presence at EU level so it can shape the agenda before others do. The report notes the initial Level 1 proposal was rushed out and too heavily influenced by specific jurisdictions. The Level 2 legislation also suffered from national influence, and from some working parties being led by representatives of countries that have no significant private equity sector. It also noted industry and regulators were caught off-guard because they had not been aware of the Commission's intentions. (Source: BVCA Publishes AIFMD Lessons Briefing)