Continuing the navigation over the following banner or closing the same is expressed consent to their use. 18 – Press releases L’ALFI a pris connaissance d’une version non-the alternative investment fund managers directive de la nouvelle convention fiscale franco-luxembourgeoise. L’ALFI ne se prononcera pas avant l’accomplissement d’une analyse détaillée basée sur une version officielle de la convention.
18 – ALFI statements On 14 March 2018, ALFI responded to the European Commission consultation on fitness check on supervisory reporting. An AIFM is a manager of an alternative investment fund. They include hedge funds, private equity funds, real estate funds and a wide range of other types of institutional fund. Why do we need the AIFMD?
What is the link with the financial crisis? A secure and stable financial system requires that all significant financial market actors are subject to appropriate regulation and supervision. This was a clear conclusion of the G20 leaders. In this context, it is essential that the risks that AIFM pose to their investors, the financial markets and the companies in which they invest are rigorously monitored and controlled. The crisis exposed a number of deficiencies in this regard, notably a lack of transparency, deficiencies in risk management and asset-safekeeping arrangements, and weaknesses in due diligence.
By responding to these risks, the AIFMD is therefore a key part of the European Commission’s drive to lay the regulatory foundations for a secure financial system that supports and stimulates the real economy. What are the objectives of the AIFMD? The overarching objective of the AIFMD is to create, for the first time, a comprehensive and secure framework for the supervision and prudential oversight of AIFM in the EU. Once the AIFMD enters into force, all AIFM will be required to obtain authorisation and will be subject to ongoing regulation and supervision.
Have the United States introduced new rules for this sector? Effective regulation of the financial markets requires consistent and effective action to be taken in all major jurisdictions. In this and other areas, the commitments made by the G20 leaders provide the framework for this action. In accordance with these G20 commitments, as in Europe, the United States have acted to strengthen regulation in this area. New rules on hedge funds and private equity were adopted in July as part of the Dodd-Frank Act. These rules will require the registration of managers of private equity and hedge funds with the Securities and Exchange Commission.