Unstructured Finance

All very British

The debate over the EU hedge fund directive at this week’s Edhec-Risk conference in London was in danger of becoming all a bit too friendly before one delegate’s intervention.

“Isn’t it the case that you’re all being terribly polite?” she asked, drawing widespread applause from the hedge fund industry audience with the suggestion that most of the panel secretly believed the controversial regulation may be driven a rather sinister rivalry between EU member countries.

The EC’s representative on the panel was forced to defend his position.

“I have no idea of member (states’) intentions,” he said. “(But) I don’t consider myself to be part of a Franco-German plot.”