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  1. Wealth
April 30, 2009

Hedge fund body attacks new EU regulation

By Spear's

The European Venture Capital Association has called a proposed EU directive on new industry regulation ‘disproportionate and anti-competitive.”

The European Venture Capital Association has called a proposed EU directive on new industry regulation ‘disproportionate and anti-competitive.”

New regulations proposed by the European Commission would require fund managers with at least EUR 100 million under management that also use leverage to register and seek government authorisation, as well as meeting new reporting and risk management standards, including statutory capital requirements.

The measures would also apply to private equity funds with more than EUR 500 million under management.

Antonio Borges, chairman of the Hedge Fund Standards Board, called the moves a ‘blatant attack’ on the industry, while the European Commission’s Internal Market Commissioner Charles McCreevy said he believed the measures ‘struck the right balance.’

For further details, visit thewealthnet

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