European hedge and private equity funds will learn next month whether the European Union will seek tighter regulation of them.

European Commission President José Manuel Barroso told the European Parliament on Tuesday that Charlie McCreevy, the EU’s internal markets commissioner, will present proposals on hedge fund and private equity regulation. The parliament has asked the European Commission to introduce oversight an capital requirement rules for alternative investment funds.

What precisely McCreevy will suggest is uncertain. He has previously rejected calls to regulate hedge funds and private equity funds.