98 Deputy Phil Hogan asked the Minister for Finance the position regarding Chapter V of the EU Commission proposal on the Alternative Investment Fund Managers Directive, where it states that the AIFM must have its head office in the same member state as its registered office; the implications of this for Ireland and for the thousands of jobs that depend on US firms with operations here but having their head office registered in the US; if this means that an AIFM with a legal personality in the EU jurisdiction should register with the supervisory authority of the member state in which the legal personality is established, or, reading the words as they stand, does it imply that the US headquarters of a firm with a presence in Ireland or another EU member state move its US head office to Ireland or the EU member state where it has operations in order to comply with the directive; the implications of this matter for US firms based here and jobs dependent on those firms; and if he will make a statement on the matter. [21038/10]

Summary

98 Deputy Phil Hogan asked the Minister for Finance the position regarding Chapter V of the EU Commission proposal on the Alternative Investment Fund Managers Directive, where it states that the AIFM must have its head office in the same member state as its registered office; the implications of this for Ireland and for the thousands of jobs that depend on US firms with operations here but having their head office registered in the US; if this means that an AIFM with a legal personality in the EU jurisdiction should register with the supervisory authority of the member state in which the legal personality is established, or, reading the words as they stand, does it imply that the US headquarters of a firm with a presence in Ireland or another EU member state move its US head office to Ireland or the EU member state where it has operations in order to comply with the directive; the implications of this matter for US firms based here and jobs dependent on those firms; and if he will make a statement on the matter. [21038/10]

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