12/20/2012

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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