Paul Richard of Willis Finex Global explains how the
AIFMD will impact fund managers from an insurance and capital
requirements perspective.
While you may have been following the progress of the
Alternative Investment Fund Management Directive (AIFMD) since the
publication of its first draft in April 2009, we feel it both
timely and important to examine this directive further and to
examine its implications for professional indemnity insurance
(PII).
Background
The stated aims of the directive include establishing a
harmonized European Union (EU) framework for monitoring and
supervising the risks that alternative investment funds (AIFs) and
their alternative investment fund managers (AIFMs) could pose to
financial stability, investors, counterparties and other financial
market participants. It applies to any entity wishing to manage or
market AIFs to EU professional investors.
