ESMA’s advice to the European Commission on AIFMD

by European Securities and Markets Authority, 2011

The European Commission’s proposal for a Directive on Alternative Investment Fund Managers was published in April 20093. Following intensive negotiations among the co-legislators over the period that followed, a political compromise was reached on the draft Directive in October 2010. The following December, the Commission sent a request to CESR (now ESMA) for technical advice on the detailed implementing measures that should form part of the AIFMD framework.