EU council reaches compromise agreement on AIFM

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At a meeting in Luxembourg European finance ministers agreed to the latest in a long line of compromise proposals drafted by the Belgian presidency of the council.

The document further refines a number of aspects of the directive, including reviewing the powers given to the new European Securities and Markets Authority (Esma) to supervise the alternative investment industry.

The compromise sets out requirements for managers based in and outside the European Union (EU) who want to market funds

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