Kelli Moll Quoted on Impact of AIFMD on U.S. Firms
Kelli Moll, a partner in Akin Gump’s investment management practice, is quoted by HFMWeek in an article about how U.S. firms may be violating the law because of letters they are sending to investors about the UK’s Alternative Investment Fund Managers Directive (AIFMD).
The article says U.S. hedge fund firms have been writing to European investors, informing them that fund offerings would no longer be provided without an explicit request. Some of those letters, the article points out, may be considered a marketing violation under U.S. regulations. Moll, however, says Akin Gump has been taking a “conservative view” on the matter, with some clients sending “much more subtle notices saying because of the [AIFMD] we won’t reach out to you, but you should feel free to reach out to us.”