Cap it all


Released after several leaked drafts on April 29, the European Commission's (EC) proposed directive on alternative investment fund managers sent the industry into an uproar. The rules represent a significant expansion of the EC's powers to regulate an industry that had previously only come under the control of national regulators.

Covering all alternative investment fund managers based in the European Union (EU) with more than EUR100 million under management (or EUR500 million if no leverage is

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