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The Draft EU Alternative Investment Funds Directive

Current Proposals and the Impact for US Managers/Promoters Selling Products in Europe
Seminar | September 10, 2009

Katten attorneys Martin Cornish, Jack P. Governale and Andrew R. Thomas will present "The Draft EU Alternative Investment Funds Directive: Current Proposals and the Impact for US Managers/Promoters Selling Products in Europe" on September 10 in New York.

The proposed Directive would have a fundamental impact on US and other non-EU promoters of alternative investment funds (defined as all funds other than EU retail funds (i.e., UCITS funds)) and potentially preclude such persons from selling funds to European investors. Discussion topics will include:

  • Current position of US/EU promoters of AIFs
  • Position of US promoters under proposed Directive
  • Position of EU promoters under proposed Directive
  • Fundamental requirements under the Directive: limits on leverage, use of third party depositaries and valuers, funds to be regulated in home domicile and local regulator to have agreed information sharing
  • EU adoption process and timetable: lobbying/anticipated changes, etc. between now and end of 2009 

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