Geithner steps up pressure against EU directive

Thu Apr 8, 2010




US treasury secretary Timothy Geithner has reiterated his concerns about the European Commission's proposed Alternative Investment Fund Manager (AIFM) directive in a letter to his finance minister counterparts in the UK, Germany, France and Spain.

The letter - which follows an earlier letter sent by Geithner to EU financial services commissioner Michel Barnier a few weeks ago - reinforces Geithner's desire to see changes made to the draft directive to ensure it does not discriminate against non-EU funds and investment managers.

It marks a stepping up of the pressure by the US authorities against the proposed EU directive, which they fear will prevent US hedge funds from marketing to EU-based clients, and will further alarm those who believe that the directive...

ISSN: 2151-1845 / CDC10004H

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