South East MEP Sharon Bowles meets with senior City bankers and fund managers to discuss controversial AIFM Directive

11.50.00am GMT Fri 5th Feb 2010

Sharon with fellow Lib Dem Lord Clement-Jones and Micahel McKee from DLA Piper

Lib Dem MEP Sharon Bowles has spoken to senior City bankers and fund managers at a seminar on the Alternative Investment Fund Managers Directive.

As Chair of the European Parliament's powerful Economic and Monetary Affairs Committee, Sharon has been much in demand in the City to discuss the AIFM Directive and other EU legislation.

The seminar, hosted by DLA Piper yesterday evening (Thursday 4th February), focused on amendments to the AIFM Directive tabled by Sharon's Committee and the concerns of critics who oppose new financial regulation.

Sharon Bowles said:

"A lot of the proposed regulation is necessary, some of it isn't. In an effort to make the AIFM Directive workable, my Committee has tabled over 2000 amendments. With this in mind, I remain optimistic that we will improve the Directive.

"While I understand the concerns some in the City have, at times I believe these concerns have been somewhat overstated. I understand that when the financial industry is planning and lobbying it is necessary to take a 'just in case', 'glass half empty' attitude, but new regulation is there to help maintain a stable market, not to undermine confidence."

Sharon will be speaking on the AIFM Directive and other EU legislation at the Centre for European Reform's 'Lessons from the Economic Crisis' conference on the 19th and 20th February.

ENDS