S. Mouzoulas, The Alternative Investment Fund Managers Directive 2011/61/EU, 2015

Directive 2011/61/EU takes a pragmatic approach, as it chooses to regulate alternative investment fund managers, leaving the way in which they operate to the market, or even to the discretion of national legislators. The occasion for this text was provided by the assignment of the task of transposing Directive 2011/61/EU into Cypriot law by the Ministry of Finance of the Republic of Cyprus. The lack of much experience, due to the limited time of implementation of the provisions of the Directive, the evolutionary process of the functioning of the markets, but also the dynamic trend towards institutionalization of the widest possible range of actors operating in the financial sector, a trend that is gaining - in the light of the ongoing economic crisis - more and more supporters, at least at the level of regulatory rule-making centres, makes this project a first interpretative tool at the international level.