Outcry Over ‘Worthless’ European Hedge Fund Rules

Apr 22 2009 | 9:32am ET

Leftist members of the European Parliament are blasting the European Commission’s soon-to-be-proposed hedge fund regulation, with their leader calling it “almost worthless.”

In a letter to EC President José Manuel Barroso, Poul Nyrup Rasmussen, the former Danish prime minister who leads the Party of European Socialists, said the proposed rules, which will be officially unveiled on April 29, were “filled with loopholes” and would be “highly ineffective.”

Rasmussen promised that hedge fund regulation would be a major issue in June’s elections to the European Parliament.

Despite the protests, the EC said it would move forward with plans to publish the proposals next week.

“The finishing touches are being put to the proposals,” EC spokesman Pia Ahrenkilde Hansen said.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

Often seen as a passion project, or part of a philanthropic venture, rare and fine stringed instruments offer an exciting option to diversify one’s investment portfolio while providing an opportunity for an exceptional long-term investment.