ESMA Suggests EU-Wide Rules For Loan-Originating Funds

Law360, New York (April 12, 2016, 3:08 PM EDT) -- The European Securities and Markets Authority published its suggestions for European Union-wide rules that would govern loan-originating investment funds Tuesday, amid recent calls for more nonbank financing and a European capital markets union.

The ESMA's Tuesday opinion was addressed to the European Parliament, European Council and European Commission, and it calls for harmonized rules governing loan-originating alternative investment funds. Some member states — like Germany, Ireland, Spain Italy and Malta — have their own rules governing these funds, but others do not, meaning a fund operating across borders would have to deal with two sets of rules, the opinion said....

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