Bank Of England Opposes Hedge Fund Plan

Jan 8 2007 | 12:12pm ET

As some of the world’s financial regulatory bodies rush to rein in hedge funds, the Bank of England is throwing its support behind a voluntary, light-touch approach.

While Germany is expected to push for an international register of hedge fund positions, as well as requiring strategy ratings from independent agencies—positions supported by the European Central Bank—the BoE favors a voluntary code of conduct to encourage transparency and better governance, The Guardian reports.

According to the newspaper, the Bank—which is not the U.K.’s financial regulator; the Financial Services Authority holds that power—fears any heavy-handed regulation will drive hedge funds from Mayfair to less-regulated jurisdictions. The Guardian reports that the BoE said any code of good practice should be driven by the hedge fund industry itself.


In Depth

Q&A: Reg A+ Will Transform the Alternative Asset Landscape

Jul 7 2015 | 4:03pm ET

In addition to easing capital formation for small companies, Regulation A+ has enormous...

Lifestyle

Fiat Chrysler Files Paperwork For Ferrari IPO

Jul 23 2015 | 5:05pm ET

Italian sportscar maker Ferrari has taken a step closer to a stock market listing...

Guest Contributor

Lifting of Foreign Ownership Limits Signals Sea Change in Vietnam's Capital Markets

Jul 28 2015 | 3:01pm ET

The lifting of restrictions on foreign ownership limits in Vietnam later this year...

 

Editor's Note