Jean-Pierre Jouyet, Chairman Of The Autorité Des Marchés Financiers: Speech To UK FSA Annual Conference On Asset Management - European Commission Draft Directive On AIFM, 17 september 2009, London

Ladies and Gentlemen,

Firstly, I would like to warmly thank Dan Waters for his kind invitation to speak at such a key event.

This is an opportunity for me to clarify the French positions on the draft Directive on alternative investment funds' managers – the AIFM Directive as it is now known.

I should like to make one thing very clear before I explain French concerns regarding the substance of the draft. We are not, I repeat, we are not seeking to undermine London to profit Paris. It would be not only a mistake but also very unrealistic.

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