AIFMD causes headaches for hedge fund industry

(CNS Business): Recent changes to the Alternative Industry Fund Management Directive (AIFMD) announced a few weeks ago are causing headaches for the hedge fund industry, not least of which is the change of the basic form of the directive to a regulation, taking the discretion of its implementation away from countries and creating a blanket one-size-fits-all regulation. Regulators are also feeling the heat because now they are required to increase their level of oversight to include the enforcement of penalties to those in breach, with the possibility of legislative changes to support these new requirements.  However, according to CIMA, Cayman is ahead of the competition when it came to considering the AIFMD’s implementation. Read more on CNS Business