The Council of Ministers and the ECON Committee have approved versions of the directive, but crucial differences remain in regards to the ‘third country’ rules. The latter group's version also includes a clause that could block LBOs.
Another week, another crucial AIFM Directive vote delayed. Adding to GPs’ anxiety is the fact that the longer the process drags on, the more unfavourable amendments seem to be added to the bill, such as one apparently banning ‘asset-stripping’
Former US Treasury Secretary Henry Paulson said at a conference last week that he does not support the Volcker rule, nor does he believe it would have saved any failed banks during the financial crisis.
The Private Equity Council’s president, Doug Lowenstein, said at a conference Wednesday a tax hike on carried interest is likely to pass – and it’s just one of several tax measures that will hit GPs in the wallet.