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Money managers under the microscope
Europe – The Final Countdown
The war of words is hotting up in the days leading up to next week’s draft EC directive on hedge funds and private equity.
The publication date has already been postponed from this week, with suggestions of last-minute exchanges between those in the tough regulation camp and those in the free market camp.
AIMA has today come out with its views on the draft directive, and it goes right to what it sees as the heart of the issue, attacking the way the draft was “rushed through”, the lack of consultation, “undue political pressure” on the drafting and the “baffling” volume of political rhetoric.
The has certainly been no shortage of political posturing in recent months, with France’s Nicolas Sarkozy and Germany’s Angela Merkel calling for hedge fund regulation, and leaders such as Barack Obama and Gordon Brown at the G20 Summit holding up the prospect of hedge fund rules.
