WEST PALM BEACH, FL (www.hedgeco.net) – The European Commission will not be proposing new hedge fund regulatory oversight later in July when the body launches a review of the European assetmanagement industry according to informed sources. The German Chancellor, Gerhard Schroeder said he is going to propose to the G8 meeting in Scotland to consider new measures for the hedge fundindustry. However, top US government officials and the UK Financial Services Authority are said to be against such plans.<\/p>\n
The EU Commission may be proposing a new group to study the impact of hedge funds on the financial stability of the financial system. Recently the Bank for International Settlements [BIS] said, \u00c3\u00af\u00c2\u00bf\u00c2\u00bdThe exposure of Banks to hedge funds had increased, and that transparency of the funds was not too obvious.\u00c3\u00af\u00c2\u00bf\u00c2\u00bd<\/p>\n
According to reliable sources, the EU Commission will not be proposing major legislative changes for hedge funds; rather they may recommend that current laws be strengthened instead. Steffen Matthias, secretary general of the European Fund and Asset Management Association (EFAMA) said, \u00c3\u00af\u00c2\u00bf\u00c2\u00bdIn the short term you can do a lot without legislation but if you want to create a single market for investment funds to allow for cross-border management of funds; to make it easier to market hedge funds and real estate funds, then you would need new regulation.\u00c3\u00af\u00c2\u00bf\u00c2\u00bd<\/p>\n
The Commission may enact legislative changes to enable fund registration easier with the EU. Thereby making it easier for asset managers to work across the European Union with little barriers. An industry spokesman said, \u00c3\u00af\u00c2\u00bf\u00c2\u00bdThe Commission is expected to propose setting up two working groups to look at the medium and long term priorities, separate from a possible working group on hedge funds.\u00c3\u00af\u00c2\u00bf\u00c2\u00bd<\/p>\n
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net<\/p>\n
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