EU minister hails “major step” on third country rules

Didier Reynders said the Belgian presidency has tabled a compromise motion on the issue of marketing ‘passports' for alternative fund managers based outside the EU.

If agreed, the issue would break months of deadlock on third country rules. So far, the European Parliament and Council have been at loggerheads over how to deal with fund managers based outside the EU.

The compromise would allow third party funds to obtain a passport to market themselves in the EU provided they met certain criteria. Details of what this would entail have yet to be disclosed.

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• Topics
• Regulation
• AIFM Directive