AIFM directive delay

Rapporteur Jean-Paul Gauzès has now announced that the Parliamentary vote on the AIFM directive will be delayed from July until September.

The UK is said to be pushing for second chance passports into individual countries for non EU funds that fail to qualify for a license because they do not meet the required standards.

In addition, the UK is looking to water down the powers given to the pan European regulators, such as ESMA (see Regulatory Roundup 15), while the Parliament is apparently pushing the other way.

Spain had hoped to find a compromise version before its Presidency was up but Belgium will take the EU Presidency from Spain in July.