Countries Complain About Creation Of EU Hedge Fund Rules

Feb 27 2013 | 11:34am ET

It's a case of too little, too late, but a dozen European Union states are complaining about the European Community's implementation of the bloc's controversial new hedge fund rules.

Those regulations, the Alternative Investment Fund Managers Directive, are now European law. But 12 of the EU's 27 members, including the U.K. and Germany, assailed the EC for its "opaque" handling of the directive, and for ignoring technical advice from the European Securities and Markets Authority "without explanation."

The letter also took the EC to task for failing to "openly consult" with member states and for giving member states too little time last year to comment on the directive, which "is extremely large and has an extensive effect."

The signatories to the short letter, which included Austria, the Czech Republic, Denmark, Finland, Ireland, Latvia, Luxembourg, the Netherlands, Portugal and Sweden, warned that they "are concerned about the manner in which the post-Lisbon process of producing delegated acts is being conducted."


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.