Brussels, 30/05/2011 (Agence Europe) - On Friday 27 May 2011, the EU Council of Ministers formally adopted a draft directive introducing EU rules for alternative investment fund managers (AIFM, hedge funds and the like), an industry processing some EUR 2 trillion a year The directive forces the managers of hedge funds and other investment funds to apply for EU authorisation to be allowed to sell their funds to professional investors across the EU.
The legislation covers all non-harmonised...