Politics & Regulation Tax & Legal

Geithner steps up pressure against EU directive

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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,