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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