Fondos de inversión alternativos (Hedge Funds) crisis y regulación, verdades y mentiras

Resumen

Hedge funds have been largely responsible for the global financial crisis that plagues developed markets since 2007. Therefore, States have regulated them in order to prevent the systemic risk that they might induce in the respective markets. In this paper, we address both the regulation of Alternative Investment Funds in the European Community law and Free Collective Investment Institutions in Spanish law. We also discuss how to control the influence of the FIA in the financial markets and in listed and non-listed companies in which they invest. Afterwards, we examine the legal status of the AIF Managers and their depositaries. Finally, this study examines the regulatory aspects that determine the conditions of competition between AIF and AIFM (EU and non-EU) in EU. The study ends with conclusions on the assessed issues.