Other important measures, for instance to monitor what is generally described as the “shadow banking system”, have been initiated. Of all the new rules, the European Directive on Alternative Investment Fund Managers is doubtless of most interest to private equity companies. It is to establish the regulatory framework for alternative investments in the European Union from mid-2013 onwards.
Source: Kharas, H. (2010), "The Emerging Middle Class in Developing Countries," OECD Development Centre Working Paper, No. 285.