The EP Economic and Monetary Affairs Committee on Monday adopted its position on the draft EU law regulating managers of alternative investment funds, including hedge funds. MEPs voted for new ways to deal with managers and funds located outside the EU, a proportionality system to regulate less risky funds more lightly, and rules on remuneration policies and short selling. They also made improvements to the directive's transparency and risk reduction rules.
Spain's Minister of Economy and Finance, Elena Salgado, speaking at the end of the Ecofin meeting, said she is maintaining the goal of sealing a European agreement on the regulation of hedge funds before the end of the six-month term of Spain's Presidency of the EU.
The International Organization of Securities Commissions' (IOSCO) Technical Committee has published details of an agreed template for the global collection of hedge fund information which it believes will assist in assessing possible systemic risks arising from the sector.
The aim of this document is to contribute to the debate by comparing the options put forward the Council and the European Parliament in order to find some common ground on the defining features of the regulatory model sought for AIFM.
