IMA slams EC proposals on funds

The European Commission’s (EC) approach to the regulation of alternative investment fund managers is fundamentally flawed and should be met with opposition from, the Investment Management Association (IMA) said yesterday. Jarkko Syyrilä, director of international relations said the draft Alternative Investment Fund Managers directive posed “severe risks for the business model of asset management”. The proposals suggest forcing hedge funds and private equity to inform regulators of their intentions and business models, among other requirements.