The Challenge

In the wake of the global financial crisis, the European Commission proposed a series of new regulatory initiatives for the banking and financial services industries.  One of the first of these initiatives was the Alternative Investment Fund Managers (AIFM) Directive, setting out new and more proscriptive regulation of the private equity and hedge fund sectors.

The FIPRA Approach

FIPRA advised AIMA (the Alternative Investment Management Association), the principal EU trade body for the alternative investment and hedge fund industry, and its members on the political background to the proposed new Directive and on engagement with the relevant EU audiences, in connection with its passage through the EU legislative process.

Utilising our Network, FIPRA assisted AIMA in engaging with both national political and official audiences in the EU Member States, including the then holders of the EU Council Presidency (Sweden, Spain) and with European Parliament audiences, including the lead Rapporteur for assessment of the proposed Directive.

The Outcome

Results achieved included building support for changes to the initial Commission proposal.

The proposed Directive was extensively amended prior to its adoption into law by the European Council and European Parliament.