Alternative Investment Fund Managers Directive, Delphi Newsletter, April 2011
As in most countries, Sweden has in recent years had a continuously growing debate regarding corporate governance and transparency in the private equity and venture capital industry. Although there are, as of yet, no statutory transparency or particular corporate governance rules for the private equity and venture capital industry, in April 2009 the European Commission put forward a proposal for a Directive on Alternative Investment Fund Managers (AIFM Directive) with the purpose of harmonising requirements for entities engaged in the management and administration of alternative investment funds. The Commission’s proposal has been met with criticism both within and outside the EU, and in November 2009, the Swedish Presidency of the EU Council Presidency issued a compromise proposal of the AIFM Directive suggesting certain amendments to the Commission’s original proposal.