Merkel Slams ‘Scandal’ Of EU Hedge Fund Regulations

May 7 2010 | 3:25am ET

If Thursday’s election results weren’t enough to dampen British Prime Minister Gordon Brown’s day, he received another scolding from his German counterpart.

Chancellor Angela Merkel blamed the U.K. for blocking the European Union’s efforts to enact alternative investments regulation, calling the lack of such rules a “scandal.”

Still, Merkel said the shape of reform should become clear over the next three weeks. There is a deadline later this month for the EU’s finance ministers to vote on the directive, which is also nearing a major vote in the European Parliament. Both bodies must approve the rules for them to become law.

While Merkel, who is facing a critical election of her own on Sunday, is right about the British blocking the rules—Brown in March prevented their adoption by finance ministers—she is likely to be mistaken if her fellow center-right party in the U.K. emerge as the winners. The Conservative Party has pledged to continue Brown’s line on the EU hedge fund rules.

As things stand, however, it is unclear that the Tories will be able to form a government, as they are likely to fall short of a majority in the British Parliament.


In Depth

Q&A: Open Season For Closed-End Funds

Aug 29 2014 | 10:00am ET

When Maury Fertig and Bob Huffman, former Salomon Brothers coworkers, launched...

Lifestyle

Och Funds Women In Finance Initiative At U-M

Aug 28 2014 | 3:01pm ET

Och-Ziff Capital founder Daniel Och and his wife have made a "generous donation"...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

The time was right

Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.