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

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...