EU AIFM - Update No. 6
7 January 2010
18 December 2009
In the fortnight since our last AIFM update, we have not seen any further published revisions on the scale of the Gauzes Report and the Swedish Presidency's two rounds of amendments. The results of the Swedish amendments have however been issued this week as a 'Compromise text' that, although still subject to debate, are encouraging and improve on the conditions for valuation and delegation.
The issues of capital requirements, depositary, third countries and portfolio company disclosure remain a concern for the private equity industry and EVCA is working on its own draft amendments, supported by its subcommittee, the Public Affairs Executive (PAE) on which Simon Walker sits. These amendments will be sent to MEPs shortly in order to be tabled before the deadline for submission of amendments on 21 January 2010.
As mentioned in the last update, Committee members and the BVCA Executive continue to campaign heavily with key influencers to the Directive and Committee members will shortly meet with Syed Kamall MEP on the specific issues of 3rd country and marketing.
