European Commission unveils AIFMD, adopts OTC derivatives rules

The European Commission has published the Alternative Investment Fund Managers Directive, which details rules for hedge funds, private equity, real estate and other parts of the asset-management industry. The commission also announced that it has adopted rules governing trade repositories, central counterparties and over-the-counter derivatives. "The adoption of these technical standards is the final step in achieving the mandatory clearing and reporting of OTC derivatives and in meeting our [Group of 20] commitments," Internal Market Commissioner Michel Barnier said. "This will improve transparency in the trading of derivatives."

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