Quotable 2009: ‘Unlevel’ Directive

“People are finally beginning to take note of the serious implications of the directive and the unlevel playing field that this is going to create. Effectively it will be the EU and everyone else.”

– Adam Levin, partner at law firm Dechert. EU regulatory proposals that were introduced this summer, called the European Commission’s Directive on Alternative Investment Fund Managers, quickly raised alarms on both sides of the Atlantic over the potential impacts they could have on increasing compliance costs, raising disclosure obligations and erecting barriers to competition around the EU. While it is still uncertain what the private funds industry will potentially face, efforts to water down some of the directive’s worst aspects have succeeded in delaying a final vote until potentially mid-2010.

Excerpted from PEM’s “EU rulemakers rethink regulatory ‘excommunication’”