REGULATORY CHANGE
July 1, 2009
I was at briefings in London last week on the UK's handling of EU negotiations on regulation. There is a great deal going on, to put it mildly; and the UK has to work hard to get its points across, in the face of some strong feelings about the ‘Anglo-Saxon' approach to markets.
The Alternative Investment Fund Managers draft Directive (commonly called the ‘Hedge Funds Directive') has attracted attention because its scope is so wide. A good summary of the UK's thinking was presented by Dan Waters of the FSA at a conference in Monaco.
The range of investments affected by the draft Directive is wide. We are consulting our members on what the Scottish investment community might say in response, in support of the views already expressed by UK bodies representing particular sectors.
Owen
