Michael Collins (pictured), Director of Public Affairs, EVCA, responds to ESMA’s advice on extending the AIFMD passport…
We welcome the initial steps that ESMA has made in assessing the possible extension of the AIFMD European passport to non-EU AIFMs and AIFs.
It is essential for Europe and for our goal of a Capital Markets Union that there is free movement of private investment capital both across EU borders and internationally. This will bring additional billions of euros in equity financing to European companies and provide European investors with the freedom they need to choose the investment opportunities that are most appropriate for them.
The AIFMD passport has a vital role to play in ensuring that European investors and international managers can connect. It is therefore disappointing that ESMA has not yet seen fit to make a positive recommendation concerning the major investment hubs of Asia and the US. We urge ESMA and the European Commission to continue to work on this issue and to place a high priority on ensuring that capital can continue to move freely both within Europe and internationally.