AIFM provision threatens depository banks
New EU directive ups depository bank liability and could force some banks to exit the market
A little-known provision in the Alternative Investment Fund Managers (AIFM) Directive has the potential to change the risk profile of depository banks to such an extent it could force them to leave the industry.
The directive, which was approved by the European Parliament and the European Commission on May 18, forms part of the Commission’s post-financial crisis programme to extend regulation and
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