US fund managers & sponsors (including private equity, venture capital and hedge fund) may face restrictions on marketing to EU investors as a result of the European Union's controversial Alternative Investment Fund Managers (AIFMs) Directive, which is nearing final passage. The Directive is similar to US proposals in that it will require private investment fund managers to register as investment advisers. The Directive's stated purpose is to provide a harmonized regulatory standard for AIFMs and increased transparency of the activities of AIFMs and the funds (AIFs) they manage for investors, public authorities and other stakeholders.
Please join Mayer Brown partners Michael Butowsky and Benedikt Weiser and senior associate Matthew Baker as they address key questions facing fund mangers under the proposed AIFM Directive, including:
- What is the scope of the AIFM Directive?
- What is the status of the proposed AIFM Directive?
- As a US fund manager, why do I care about the proposed AIFM Directive?
- What can US fund managers do now to be prepared?
- What are the restrictions on EU Managers?
- Does the proposed AIFM Directive affect European institutional investors like pension funds?
- Does the proposed AIFM Directive affect EU AIFMs who form funds outside of the EU (such as the Cayman Islands or the Channel Islands)?
Of Related Interest
SEC Adopts Amendments to its Investment Adviser Registration Form
AIFM Directive Update
The Dodd-Frank Wall Street Reform and Consumer Protection Act
Mayer Brown's Global Financial Markets Initiative helps clients deal with the legal and business challenges resulting from the ongoing turbulence in worldwide financial markets. By mobilizing the firm's global resources from multiple practices and offices, the Initiative provides clients with knowledgeable and timely counsel on a broad spectrum of their legal needs.