BVI, Bundesverband Investment und Asset Management, has opened a new office in Brussels on as of today, July 1st.
This presence in the political heart of the EU gives us the opportunity to employ the know-how of the German fund sector more effectively and at an earlier stage in the European law-making process, said BVI Director General, Thomas Richter.
The number of issues relevant to this sector which are being regulated at a European level is constantly on the increase and the on-going development of the UCITS and AIFM Directives, and MiFID are examples of this, says BVI.
“The challenges posed by such a concentration of invest- ment fund regulation does not only apply to the breath of subject matter. The scope of this regulation is con- stantly growing given the increased deployment of multi-level legislative processes. Ordinances and directives are formulated in Brussels, but the details of how such directives are implemented be will also be dictated more often by Brussels in future, says Richter. “Besides active dialogue with politicians and other institutions based in Brussels about financial market issues, cooperation with the European Invest- ment Fund Association, EFAMA, will be intensified. We are now well placed with locations in Frankfurt, Berlin and Brussels to maintain dialogue with politicians precisely where the policy is being made.”
(LB)