14/07/2010 Author: Tony Griffiths

AIFM deadline could see further delays

The chances that EU negotiators will meet their new September deadline for a vote on the Alternative Investment Fund Managers (AIFM) Directive are diminishing, with disagreement still rife as the Parliament’s summer recess looms.   

A meeting took place on Monday, just four days before parliament breaks on 16 July, and there has still been “no agreement on any key issues”, one Brussels source told HFMWeek. With chances of a compromise “dead until we're back on 31 August”, they added.

With so little time left, many parliamentarians now believe that October is a more likely date for the final vote.
The two legislative arms, the EU Council of member states and Parliament, led by rapporteur Jean-Paul Gauzés, have been struggling to reconcile their differences since the sides came to together in May for the final trialogue stage of negotiations.

A compromise deal has been put forward by the Council, but Gauzés is reported to be refusing to budge on third-party marketing.