Occasional Paper: Hedge Fund Regulation in the USA and Europe: the US Dodd-Frank Act as Pendant to the EU AIFM-Directive

In response to the financial crisis of 2008-10, both the USA and the European Union developed new regulatory regimes covering hedge funds and other alternative investment funds, which were alleged to have created financial instability and contributed to the outbreak and severity of the crisis.

Both the EU Alternative Investment Fund Manager Directive and the U.S. Dodd-Frank Act subject managers of hedge fund and other alternative investment funds to new regulatory systems, which although providing certain valuable protections to investors – such as improved EU requirements for independent custodians – in many cases “overshoot” their policy mark by providing ever more intrusive regulations and restrictions.

US-amerikanische und europäische Ansätze zur Hedgefonds Regulierung