EU AIFM - Update No. 16

This week the rapporteur for the AIFM directive, Jean-Paul Gauzès MEP, confirmed that the Plenary vote in the European Parliament has been postponed until September. The vote which was scheduled to take place later this month was postponed as the Council, European Parliament and European Commission failed to reach compromise in a number of areas, including the third country issue. Work towards a compromise will continue under the Belgium Presidency, whose six month Presidency begins today (1st July). In light of this further delay, yesterday I met with AIFM shadow rapporteur, Syed Kamall MEP, to reiterate our industry's concerns; namely the disproportionate burden the disclosure regime would place on SMEs, the third country issue and the implication article 27a would have on management buy-outs. As always if you have any questions, please contact us: Emily Hartman, ehartman@bvca.co.uk or Carmen Murray, cmurray@bvca.co.uk.