AMF assessment of regulations on of funds of alternative investment funds

06 April 2007

The French securities regulator started an assessment of its framework for regulating alternative multimanagement or funds of alternative funds. The AMF wants to draw all necessary lessons from the collapse of various hedge funds, and more particularly of Amaranth, a US hedge fund, in September 2006. It also intends to review any opportunity for regulatory arbitrage that is unwarranted from the viewpoint of investor protection.

The AMF wants to ensure that France's regulatory framework for funds of alternative funds is in line with international standards. It proposes the emergence of harmonised European standards for the regulation of funds of alternative funds, a pre-condition for the possibility of creating a passport for these vehicles.

Press release

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