LONDON, July 22, 2013 — New research by BNY Mellon, the global leader in investment management and investment services, points to significant uncertainty about Alternative Investment Fund Managers Directive (AIFMD) requirements despite today's first deadline for authorisation. BNY Mellon surveyed 70 respondents from Europe, Asia, the US and Latin America from companies with an accumulated total of over USD$5 trillion assets under management.
Key findings from the survey include:
"Despite today being the deadline to apply for authorisation under AIFMD, much work remains for the industry to achieve full compliance, with our research suggesting that the burden of regulation could even lead to a lower number of funds available to investors," observes Hani Kablawi, EMEA Head of Asset Servicing at BNY Mellon, in response to today's findings. "Despite attempts to improve investor access and information, the industry is challenged by the complexity of implementing AIFMD and the need to comply with it in the future. This is a demanding time for the industry as it grapples with the slew of further regulation under implementation or discussion across Europe."
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