The Alternative Investment Fund Manager's Directive: European Regulation of Alternative Investment Funds

Dirk Zetzsche

ISBN 10: 9041140441 / ISBN 13: 9789041140449

Published by Kluwer Law International, 2012

The Alternative Investment Fund Managers Directive (AIFMD) is a pivotal European asset management regulation of the early 21st century. However, many practitioners and academics argue that the directive, in its current form, is disconnected from European financial law and industry practices. This comprehensive analytical discussion features contributions from thirty-four experts, including academics, lawyers, consultants, and fund supervisors, who examine the AIFMD from multiple perspectives. They delve into its structure, regulatory history, scope, manager appointment and authorization, delegation rules, reporting requirements, transitional provisions, and the objectives outlined in official documents. The book also includes ten country reports that provide a national viewpoint on the regulation's interaction with the laws of Italy, Switzerland, Luxembourg, The Netherlands, Austria, Liechtenstein, the United Kingdom, Germany, France, and Ireland--key financial centers in Europe. This critical examination aims to foster a thoughtful approach to the evolving European financial markets framework introduced by the AIFMD. It highlights inconsistencies and challenges in applying the directive while offering potential solutions. Investors, fund managers, depositaries, asset managers, administrators, and academics will find this discussion invaluable. Seller Inventory # f4ee4fca-bc3c-441c-86a4-13aff3d1e2b0

Synopsis:

The Alternative Investment Fund Managers Directive (AIFMD) may be the most important European asset management regulation of the early 21st century. However, a preponderance of practitioners and academics in the field argue that, in its present form, the directive is seriously out of touch with both the system of European financial law and industry practice. In this first in-depth analytical and critical discussion of the content and system of the directive, thirty-four contributing authors academics, lawyers, consultants, fund supervisors, and fund industry experts examine the AIFMD from every angle. They cover structure, regulatory history, scope, appointment and authorization of the manager, rules on delegation, reporting requirements, transitional provisions, and the objectives stipulated in the recitals and other official documents. The challenging implications and contexts they examine include the following: connection with systemic risk and the financial crisis; impact on money laundering and financial crime; nexus with insurance for negligent conduct; connection with corporate governance doctrine; risk management; transparency; the cross-border dimension; liability for lost assets; and impact on alternative investment strategies. Ten country reports add a national perspective to the discussion of the European regulation. These chapters deal with the potential interactions among the AIFMD and the relevant laws and regulations of Italy, Switzerland, Luxembourg, The Netherlands, Austria, Liechtenstein, the United Kingdom, Germany, France, and Ireland. The former are Europe s most vibrant financial centres and markets.

Bibliographic Details

Title: The Alternative Investment Fund Manager's ...
Publisher: Kluwer Law International
Publication Date: 2012
Binding: Hardcover
Condition: As New