AIFM first reading vote delayed until September
Belgium is set to take over negotiations for the alternative investment fund managers (AIFM) directive after talks between the European Union council and parliament broke down last week.
Rapporteur Jean-Paul Gauzès announced the directive would not be adopted by the parliament in July as originally scheduled. Instead the vote is now due to take place in September.
In a statement Gauzès said: "With regret I must note that the Spanish Presidency of the EU was not able to present a suitable compromise text agreeable to all sides. "I have now met with the Belgian minister of finance and the discussions were fruitful. Work will continue during the Belgian presidency and I am
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