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

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR