Thomson Financial- The committee of European securities’ regulators (CESR) will refrain for now from imposing law-like controls on hedge funds after 13 big European funds have presented a voluntary codex of behaviour, president Eddy Wymeersch told Financial Times Deutschland.
‘From a qualitative perspective, the plans are of high value and very balanced,’ he said. ‘Now, we will observe if it works and take tougher actions (if necessary).’
But Wymeersch said those voluntary rules of behaviour cannot solve all issues, adding the codex does not address the systemic risks that arise in the financial market if a hedge fund collapses.
