AIMA Begs to Differ on European Parliament Proposal

LONDON (HedgeWorld.com)–The Alternative Investment Management Association, a global trade group, said Thursday it objects to some of the ideas set forth in a hedge fund regulation proposal recently approved by the European Parliament.

AIMA officials did not detail their objections but in a statement said they intend to hold talks with members of the European Commission “to clear several misconceptions and inaccuracies concerning hedge funds which are apparent in the report,” according to the statement.

AIMA officials added that whether the proposal ultimately will lead to an oversight regime for so-called sophisticated alternative investment vehicles for the entire European Union is uncertain. Offering hedge funds in a uniform Europe-wide vehicle would mean fund marketing rules would have to be made uniform across Europe and tax discrimination in various countries would have to be removed, they said.