BRUSSELS, Belgium – The EU’s internal market commissioner said Thursday he was wary of heavy-handed legislation for alternative investment funds such as hedge funds.
Charlie McCreevy said at a hearing of the European Commission on future legislation for investment funds that hedge funds and the private equity sector have enjoyed growth rates that are the envy of the broader industry.
“Why interfere if something is going well?” McCreevy told reporters after he gave a speech outlining the need to encourage the “significant untapped potential for growth in Europe.”
“These sectors have achieved all of this without needing an overarching European regulatory framework,” he added.
