Asset management regulation at European and global levels has reached a watershed, AMF Managing Director Reynier said and outlined that the forthcoming UCITS proposal is expected to include a European private placement regime.
Asset management regulation at European and global levels has reached a watershed, Hubert Reynier, AMF Managing Director said, pointing in particular on the new UCITS Directive which should enable management companies to organise themselves on a truly Europe-wide basis.
The Commission is also expected to issue guidelines on a range of crucial issues involving UCITS regulation by the autumn, he said. These include creating a European private placement regime, passporting real estate funds and funds of hedge funds, and seeking fair competition between UCITS and "substitute" products, which are governed by different laws but actually offer a comparable investment universe.
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