European Central Bank
Euro Central Bank Warns Against Regulating Hedge Fundsthis article.
"The ECB supports the intention to provide a harmonised regulatory and supervisory framework for the activities of alternative investment fund managers (AIFMs) in the European Union," it said in an opinion requested by the Council of the European Union.
But the central bank warned that if other countries did not adhere to a common approach, hedge funds could shop around for a new home where they would be subject to fewer controls.
"An internationally coordinated response is necessary given the highly international nature of the industry and the consequent risks of regulatory arbitrage and evasion," the bank said.
The proposed EU rules are an attempt to regulate managers of so-called alternative investment funds sold into the EU, but critics say the rules would increase protectionism and simply incite hedge funds to move elsewhere. Source
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Tags: ECB Warning, ECB, european central bank, european union, Directive on Alternative Investment Fund Managers, Hedge Fund managers, european hedge funds
Link to This Resource: European Central Bankhttp://richard-wilson.blogspot.com/2009/10/european-central-bank.html