Visit of William McKeeva Bush, Caymanian Prime Minister, to Michel Barnier
On 10 June 2010, William McKeeva Bush, Caymanian Prime Minister and Minister for Finance, Tourism and Development, paid a visit to Michel Barnier, Member of the EC in charge of Internal Market and Services, in Brussels.
Main topic for discussion was the European Directive on Alternative Investment Fund Managers (AIFM), taking into consideration the possible impacts on the Cayman Islands' hedge funds industry.
This Directive, proposed on May 2010 by the European Commission, aims to create a comprehensive and effective regulatory and supervisory framework for AIFM in the European Union. AIFM, which include the managers of hedge funds and private equity funds, managed around €2 trillion in assets at the end of 2008. It is an important part of the European Commission's response to the financial crisis. SHOTLIST