EU To Poll Firms On Hedge Fund Regulation

Dec 2 2008 | 1:15pm ET

In a likely first step towards Europe-wide hedge fund regulation, the European Commission will begin consulting with financial firms and others on the continent, its top regulator said yesterday.

Charlie McCreevy, the European Union’s internal markets commissioner, said that the discussions would cover the risks hedge funds pose to the global financial system and how to deal with hedge funds based in offshore locations, among other items.

“Who should oversee hedge funds? Securities regulators? Central banks? Both?” McCreevy, who had previously opposed new hedge fund regulations, said in a speech to the European Parliament. “How can we ensure that too much transparency does not kill hedge funds and that we do not throw the baby out with the bathwater?”

Any new regulations would have to be approved by the governments of the 25-member EU as well as the European Parliament.

While McCreevy has changed his position on new hedge fund rules, he told legislators that he continues to oppose new regulations for private equity firms, as well as a permanent ban on short-selling.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...