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.


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...