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ARTICLE · 16 APRIL 2019

Legislative Procedures Cast Their Shadows

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Revision of the AIFM Directive and Solvency II as well as Environmental Social and Governance concerns and cross-border fund sales do not allow the private equity and venture capital funds any regulatory break.

LuxembourgFinance and Banking
Anja Grenner
Anja Grenner

Revision of the AIFM Directive and Solvency II as well as Environmental Social and Governance (ESG) concerns and cross-border fund sales do not allow the private equity and venture capital funds any regulatory break.

It is not just the adjustments to the, unfortunately still unclear, effects of Brexit that are currently driving the private equity (PE) and venture capital (VC) funds sector in Europe. Other legislative procedures of relevance for the PE and VC sectors are casting their shadows.

These include the forthcoming revision of the Alternative Investment Fund Manager Directive (AIFMD) based on the recently completed review by the European Commission. In this context, the article also refers to, from the PE and VC sectors point of view, the draft Commission Transparency Regulation on ESG themes, the drafts on the cross-border sales of funds and the recently published Commission proposal for a regulation on the revision of the Solvency II rules (advanced

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