ECB warns Brussels on hedge fund rules

Article reports that the European Commission proposals plans to regulate hedge and private equity funds were dealt a blow on the 22 October 2009 when the European Central Bank warned the proposals would put the industry at a significant competitive disadvantage.

The opposition voiced by the Frankfurt-based ECB, which feared a go-it-alone approach in Europe would backfire, is likely to be seized upon by the alternative investment fund sector – and influence the extensive re-writing of the proposals that is already under way.

ESO: Background information: High hopes for alternatives redraft http://www.europeansources.info/record/high-hopes-for-alternatives-redraft/

ESO: Background information: EU plans for hedge fund rules under fire / EU rules on hedge funds unlikely to end debate http://www.europeansources.info/record/eu-plans-for-hedge-fund-rules-under-fire-eu-rules-on-hedge-funds-unlikely-to-end-debate/

ECB: Opinion on a proposal for a Directive of the European Parliament and of the Council on Alternative Investment Fund Managers and amending Directives 2004/39/EC and 2009/…/EC (CON/2009/81) http://www.ecb.int/ecb/legal/pdf/en_con_2009_81_f_sign.pdf

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