Politics & Regulation

AIMA concerned by ESMA third-country AIFMD proposals

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The Alternative Investment Management Association has raised concerns about how the Alternative Investment Fund Managers Directive would apply to non-EU managers and funds, under proposals by a European Securities and Markets Authority taskforce.

In its response to an ESMA consultation exercise on the third-country issues, AIMA said the proposed measures could have the practical effect of preventing EU investors from investing in non-EU hedge funds such as those managed from the US, Canada, Hong Kong, Singapore, Australia and Switzerland.

ESMA is responsible for advising on specific rules and regulations that will enable the Directive to be implemented under