Thursday, 5 May 2016
Last updated 8 hours ago
Mar 18 2009 | 3:19am ET
Hedge funds will get a look at their regulatory future next month as the European Union unveils new rules for the sector.
The European Commission will issue a directive on April 21, offering a draft bill that would impose binding rules on hedge funds and private equity firms designed to boost regulatory oversight of alternative investment firms. The new rules won’t come into effect anytime soon: The proposal must be adopted both by the European Parliament and the EU’s 27 member states.
“This will strengthen overall effectiveness of the regulatory supervisory system,” David Wright, deputy head of the EC’s internal markets unit, said.