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The size, location and leverage of funds to be covered by the proposed EU directive on alternative investment fund managers, which would subject them to a mandatory authorisation and supervisory system, were debated by the Economic and Monetary Affairs Committee on Tuesday. In discussion of the 1,669 proposed amendments to the report, a number of issues were raised by rapporteur Jean-Paul Gauzès (EPP, FR) and also by the shadow-rapporteurs of the political groups and other MEPs.
Scope
The draft report removes the EUR100 million threshold exemption from the directive’s application and suggests replacing it with a proportionality rule. At the meeting, Mr Gauzès added that this rule would need to be "very well defined, so as to avoid catching funds which need...
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