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

The Benefits Of Private Debt Investing

May 7 2015 | 10:43am ET

Jeffrey Haas is chief operating officer of Old Hill Partners Inc., an SEC-registered...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

How To Generate 6% Yield In A Volatile World

May 22 2015 | 6:41am ET

Private credit comes in many different flavors, all with the common themes of over...

 

Editor's Note