WEST PALM BEACH, FL (www.hedgeco.net) – Germany has suggested that the global hedge fund industry be regulated internationally as opposed to each nation regulating its own industry. Internationalregulation according to the German Finance Minister will help to increase the transparency within the global hedge fund industry. Stefan Giffeler, spokesman for Finance Minister Hans Eichel, said,�The point is how to create better stability in financial markets on an international level…And one is able to secure better financial market stability by talking about more transparency for hedgefunds.”
Mr. Giffeler took issue with a recent statement credited to the ruling democratic party which remarked that, �There is reason, to think about regulations that do not favor people making quick money and moving on.” That statement was referring to ongoing situation involving Deutsche Boerse AG. According to the report, the UK based hedge fund, the Children’s Investment Fund Management blocked the Frankfurt based Exchange from participating in bids for its London based competitor.
Giffeler however hinted that Germany will not be tightening its national hedge fund laws. He said, “On a national level, and the minister’s comments show this, there are no plans for any initiative or any concrete measurers or event to propose legislation, there is no need to act.�
On German hedge fund rules, Giffeler said, that such regulations providing for hedge funds to market their funds to German Investors since 2004 had clear transparency implications. He believes that, �A lot has already happened on an international level via the Financial Stability Forum and these efforts must be pursued further and intensified,” according to him.
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Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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