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European Union AIFM directive set for November vote
Date 27/10/2010 12:24  Author webmaster  Hits 1131  Language Global
27 OCT 2010

By Joanne Harris | Hedge Funds Review

Negotiations on the European Union's alternative investment fund managers (AIFM) directive have reached a conclusion. A vote is likely to take place in the European parliament on November 11.

After a unanimous vote of approval by European Union (EU) finance ministers last week, the compromise text proposed by the Belgian presidency of the union has now been accepted by the EU parliament's negotiators.

At a press conference in Brussels today, parliamentary rapporteur Jean-Paul Gauzès said: "The text is not perfect but texts are never perfect."

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