AIMA Issues Guidance And Responses To ESMA

The Alternative Investment Management Association ("AIMA") continues to be proactive in responding to proposed European regulatory initiatives. Recently it responded to the European Securities and Markets Authority ("ESMA") consultation paper on proposed guidelines on remuneration policies and practices under MIFID, the recent guidelines on ETFs and other UCITS issues and the ESMA consultation paper seeking comments on the treatment of repos. AIMA also issued guidance on the EU Short Selling Regulation.

(i)  AIMA responds to ESMA consultation paper on proposed Guidelines on remuneration policies and practices under MIFID

ESMA published this past summer a consultation paper regarding draft guidelines on remuneration policies and practices under MIFID (the "Guidelines"). The aim of the Guidelines is to reduce excessive risk taking by the financial services industry by avoiding conflicts of interest and to increase investor protection.