CEU Electronic Theses and Dissertations, 2014
| Author | Zukakishvili, Ketevan |
|---|---|
| Title | IMPACT OF THE AIFMD ON EUROPEAN HEDGE FUND INDUSTRY: CASES OF THE UNITED KINGDOM AND FRANCE |
| Summary | AIFMD is one of the most controversial pieces of the European Union financial regulation. The Directive practically finalizes the process of bringing under the EU-level oversight virtually all types of investment activities. Even though it regulates only alternative investment fund managers, it is argued that AIFMD aimed to extend the supranational supervision over hedge funds and other highly leveraged institutions, despite the inherent problem of absence of their proper legal definition. This thesis will demonstrate, how the European legislator addressed this issue. It will also discuss another challenge of hedge fund regulation in the European Union: historical differences between the approaches of the Member States, as well as their different political and economic objectives. This thesis will demonstrate the major interests and effects of AIFMD on two levels: the European Union and the individual Member States: the United Kingdom and France. After offering an insight into the rigorous requirements of the Directive, the thesis will discuss its implications on hedge funds industry and will argue that at the Union level, AIFMD achieves political goals better than its economic objectives. Finally, this thesis will demonstrate, that the Directive better serves the interests of the French, than the British hedge fund industry. |
| Supervisor | Tajti, Tibor, Prof. |
| Department | Legal Studies LLM |
| Full text | https://www.etd.ceu.edu/2014/zukakishvili_ketevan.pdf |
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