1 Amendments of Pervenche BERÈS related to 2007/2238(INI)
Amendment 167 #
Motion for a resolution
Annex – recommendation 2 – point b
Annex – recommendation 2 – point b
(b) Notification (i.e. approval) of wholesale investment vehicles. In order to encourage funds to be located onshore in the EU, the Commission should propose a separate directive along the lines of the EU-wide private placement regime, currently under discussion, to apply to the marketing and distribution in the EU of hedge funds and private equity funds managed by European management companies. Such a regime should function on a single entry point basis: once authorised, it should be possible to offer those wholesale investment vehicles to professional, institutional investors throughout the EU. In order to promote a well-functioning single European financial market, the Commission should ensure the investment vehicle discloses the following: - general investment strategy and immediate information on any changes thereto, - leverage/debt exposure, - overall fees as well as breakdown of fees (including any stock options awarded to employees), - source and amount of funds raised, - past performance, - risk-management system and portfolio valuation methods, - information on the administrator of the fund, and - share of the fund contributed by the management company and its staff. That information should be set out in a uniform format (also to facilitate the database proposal below).