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Private Equity and Venture Capital in Europe
book

Private Equity and Venture Capital in Europe

by Stefano Caselli
November 2009
Beginner content levelBeginner
368 pages
11h 24m
English
Elsevier Science
Content preview from Private Equity and Venture Capital in Europe

4.3. Closed-End Funds and AMCs: Principles and Rules

According to the definition of financial services proposed by the EU, there are some activities that cannot be offered by banks directly[1]but can be managed by specialized organizations such as funds, special investment firms, and other structures accepted by single country regulations.

1 According to the EU, there are six activities that banks cannot manage directly. They are also known as financial services and are regulated by the Financial Services Act:

  • Dealing — buying and selling securities to obtain a profit
  • Brokerage — buying and selling securities on a customer’s behalf; in this case no risk is taken from the financial institution’s side, therefore the profit derives from fees ...
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Publisher Resources

ISBN: 9780123750266