Saturday, October 24, 2009

ECB: EU Rules For Hedge Funds, Private Equity Need More Work

''LONDON -(Dow Jones)- The European Central Bank on Thursday threw its weight behind critics of the European Commission's proposals to regulate hedge funds and private equity, saying the current plans failed to create a level playing field between all financial institutions and that the "one size fits all approach" was inappropriate.

The E.U. draft directive aims to identify and reduce risk in the financial system in an attempt to prevent future breakdowns but has been widely criticized by industry bodies, regulators and politicians who are calling for revisions to the current plans.

"The provisions of the proposed directive could be tailored in a way that better reflects fundamental differences between alternative investment fund managers," the ECB said in a legal opinion..'' target="blank"/p>


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Posted by Yiannis Coccalas

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