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Investment Fund Regulatory and Tax developments in selected jurisdictions

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Following the vote of the EU Parliament plenary session of 11 November 2010, and without formally waiting for the entry into force of the Directive expected for mid-2011, work on the implementation phase has started. This work will span more than two years, and will consist of two main pillars: Member States will draft their implementing legislation while the Commission and ESMA (former CESR)6 will work on so-called “Level 2” measures or technical and regulatory guidelines for implementation. Following a provisional request for assistance from the Commission, CESR/ESMA issued a call for evidence on implementing measures on the AIFM Directive on 3...
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Investment Fund Regulatory and Tax developments in selected jurisdictions

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