Comment: Chris Sullivan
The hedge fund industry has always had a bit of a schizophrenic relationship with the media, particularly here in the US
11/11/2010
AIFM Directive passes final vote
The EU Parliament has approved the AIFM Directive at a final vote in Brussels this morning, paving the way for it to become law in early 2013.
Commenting on the news, PricewaterhouseCoopers (PwC) partner Amanda Rowland, said: “Today’s vote is a strong reminder to the asset management industry that a much more intrusive regulatory regime is on its way - through this directive and a raft of other changes in Europe and beyond.”
According to a recent poll by PwC of 186 senior industry figures from the alternatives sector, only 2% of respondents said they had a plan to in place that is being implemented to respond to the Directive
“Managers need to start considering how their businesses will be affected and how they should respond,” Rowland added. “The industry has a monumental task ahead to ready itself for implementation in 2013, and earlier in the case of many other changes. It is worrying how many managers have given all of this so little thought to date."
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