Partner, Kerry Anderson is appointed to serve as a member of the Focus Group for the Directive of Alternative Investment Fund Managers (AIFM) by the BVI Financial Services Commission.
In April 2009, the European Commission issued a proposal for a Directive on AIFM which covers all entities involved in the management of alternative investments funds (this includes, inter alia, hedge funds and private equity funds). The Directive applies to managers of funds that are marketed to investors within the European Union (EU) as well as EU Managers that manage non-UE funds. It is the Focus Group’s main objective to review the AIFM’s directive and access its implications and impact on BVI domiciled funds and to formulate appropriate recommendations in mitigation there to.
The Commission states that it “is confident that the members of the Focus Group will have relevant and invaluable contributions to make.”