Discussing Passports and UCITS Wrappers with John Adams
|May 22nd, 2012 | Filed under: Regulatory, Today's Post, UCITS | By: cfaille||
John Adams, counsel in the London office of the global law firm Shearman & Sterling, advises clients on the formation, operation and promotion of all sorts of retail investment funds as well as on their documentation.
He is very illuminating on the current state of the EU’s Alternative Investment Fund Management Directive.
One of the goals of AIFMD, one of the motives that have long driven the process, is the desire to remove some of the political and regulatory constraints in the way of onshore and pan-Europe operations. Indeed, IPE recently quoted a Lyxor manager thus: “Many of these investors are fully supportive of the move from what they sometimes perceive as offshore, tax-haven investing, or non-transparent black-box investing, toward onshore and more regulated investment.”
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Christopher Faille is a Jamesian pragmatist. William James has taught him, for example, that "you can say of a line that it runs east, or you can say that it runs west, and the line per se accepts both descriptions without rebelling at the inconsistency."