The European Parliament has adopted the Alternative Investment Fund Managers Directive.  The Directive will introduce a harmonised regulatory framework for managers of alternative investment funds based in the EU.  The Directive does not apply to funds covered by the UCITS Directive, but will apply to managers of private equity and venture capital funds.

The Directive will make managers of alternative investment funds subject to the supervision of the relevant regulatory authority in their home member state, introduce minimum capital requirements and impose disclosure requirements requiring information disclosure to investors and the relevant regulatory authority.  The Directive will also allow alternative investment fund managers to manage and market EU alternative investment funds to professional investors. 

For further information, see:  www.europarl.europa.eu/en/pressroom/content/20101110IPR93908