EVCA calls on European Parliament for ‘better, transparent, appropriate and sustainable regulation
03 September 2009
For regulation to be appropriate and fair, it must be tailored according to different forms of alternative investment.
Industry roadmap for better regulation outlines key areas that require improvement. With the European Parliament’s Committee on Economic and Monetary Affairs (ECON) meeting today, Europe's private equity and venture capital industry calls on MEPs to grasp the opportunity to create ‘better, transparent, appropriate and sustainable’ regulation for Alternative Investment Fund Managers (AIFM). Commenting, Javier Echarri, EVCA Secretary-General, said: “Today’s meeting is a milestone in the development of regulation that could significantly affect Europe’s future competitiveness. With the eyes of the financial world turned on Brussels over the next few months, MEPs have the opportunity to create a better, transparent and sustainable financial system”.
“For regulation to be appropriate and fair, it must be tailored according to different forms of alternative investment.” “We accept the objectives of this regulation - to control system risks and enhance investor protection - and believe the proposals should be based on the benefits associated with different forms of alternative investment, and proportionate to the risk they present. Private equity is an important contributor to European competitiveness, particularly in financing and supporting SMEs, as a driver of innovation, and as a cornerstone of European pension returns”.
© EVCA - The European Private Equity & Venture Capital Association
