Tag: Europe

Sophia Grene

Lord Turner warned hedge funds might become a target in Europe

Lord Turner warned hedge funds might become a target in Europe

Even the European Commission’s own experts think it is going too far with its proposals for regulating the hedge fund industry.

Jaques de Larosière, author of an influential report on financial supervision, told a seminar in London the Commission’s draft directive on alternative investment management went much further than he had recommended. The report came to the conclusion hedge funds were not a systemic issue, but the draft directive proposes regulating some aspects of alternative funds even more tightly than Ucits, the retail investment vehicle.

As leader of a ‘High Level Group’, one might expect M. de Larosière’s words to have some weight.

The seminar, hosted by Business for New Europe, also heard from Lord Turner, chairman of the UK’s Financial Services Authority, who warned hedge funds might become a “target” in Europe, and Lord Myners, the UK financial services secretary to the Treasury, who called the directive “flawed”.

The Alternative Investment Management Association welcomed these comments – as well it might!

About the blog

FTfm is no longer updated but it remains open as an archive.

FTfm's specialist writing team offer their insights into the global fund management industry.

About the authors

Pauline Skypala has been editor of FTfm for four years having previously been deputy personal finance editor. She joined the FT in 1999 and has been writing on savings and investment issues throughout her career.

Steve Johnson, FTfm deputy editor, has been a journalist for 17 years, 10 of which have been with the FT.


Sophia Grene, reporter on FTfm, has been a financial journalist in print and online for 12 years.

Ruth Sullivan has worked as a financial/business journalist and foreign correspondent and for the past 10 years has been at the FT.

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