U.K. Signals Willingness To Deal On Hedge Funds

Apr 24 2007 | 10:07am ET

Is the U.S.’s chief ally on hedge fund regulation wavering? Ed Balls, a minister the British Treasury, said yesterday he would consult other European countries about pooling information regarding hedge funds in an effort to protect London’s financial establishment.

Of course, under such a scenario, the U.K. would do most of the sharing: London is home to 90% of Europe’s hedge fund business. But he did indicate that the U.K. and Chancellor of the Exchequer Gordon Brown are taking a softer line towards Germany’s push for greater transparency and supervision of hedge funds than are their American colleagues.

“Following discussion with the FSA, we believe that the quality of prudential supervision of hedge fund activity would be enhanced if there were greater co-operation between the key regulators,” Balls said at a conference sponsored by the chief U.K. regulator, the Financial Services Administration. “One option would be to broaden the six-monthly enquiries that the FSA currently carries out to other major regulators.”

Balls did warn that he and his boss continue to oppose any heavy-handed regulation of hedge funds.


In Depth

'Smart Beta' Funds In Regulators' Sights, Hedgies May Be Next

Mar 26 2015 | 11:11am ET

Funds that mimic strategies used by active managers for a fraction of the cost could...

Lifestyle

Study: Both Marriage and Divorce Lead to Negative Hedge Fund Performance

Mar 25 2015 | 6:51pm ET

Trouble at home leads to trouble in the market for fund managers, according to researchers...

Guest Contributor

Concerned About Your HFT Exposure? Hedge It!

Mar 26 2015 | 1:06pm ET

High-frequency trading has been a persistent storyline for several years. The trading...

 

Sponsored Content

    Mar 9 2015 | 6:35am ET

    Kelly RodriquesKelly RodriquesAs more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…

Editor's Note