British Backed By Cyprus, Malta In Hedge Fund Fight

Mar 19 2010 | 9:52am ET

The U.K. really is “very isolated” in its opposition to the European Union’s proposed hedge fund rules: The country counts only a pair of Mediterranean island nations in trying to sink the directive, which would impose strict reporting and custody requirements on hedge funds and private equity funds.

Of the 27 members of the EU, only Britain, Cyprus and Malta are against the adoption of the rules. Previously, the U.K. was thought to enjoy the support of the Czech Republic, Finland, Ireland and Sweden, as well.

Like the British, the Maltese are concerned that the rules, which could also impose leverage limits and block overseas alternative investment managers from Europe, will damage its hedge fund industry.

British Prime Minister Gordon Brown this week derailed—for the time being—the Alternative Investment Fund Managers directive by making clear he would not accept the compromises being discussed by the bloc’s finance ministers. The rules are also being debated by the European Parliament.


In Depth

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

 

From the current issue of