MEPs pledge to change hedge fund proposals

Article reports that European parliamentarians vowed on the 2 September 2009 to amend proposals to regulate hedge funds and private equity funds, because of fears the legislation could trigger an exodus to countries outside the EU such as Switzerland.

In the first committee debate on the highly charged issue in the European Parliament, MEPs warned of the danger of approving 'one-size-fits-all' legislation that failed to distinguish between different types of fund.

ESO: Background information: Europe must not cut hedge funds at the root http://www.europeansources.info/record/europe-must-not-cut-hedge-funds-at-the-root/

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/

EurActiv, 3.9.09: Pressure mounts over hedge funds directive http://www.euractiv.com/en/financial-services/pressure-mounts-hedge-funds-directive/article-185066

EurActiv, 3.9.09: Mayor of London lobbies Brussels against 'protectionist' regulation http://www.euractiv.com/en/financial-services/mayor-london-lobbies-brussels-protectionist-regulation/article-185068

EurActiv, 4.9.09: EP hedge fund rapporteur: 'We'll go ahead with regulation' http://www.euractiv.com/en/financial-services/ep-hedge-fund-rapporteur-go-ahead-regulation/article-185120

European Commission: DG Internal Market and Services: Investment funds: Alternative investments http://ec.europa.eu/internal_market/investment/alternative_investments_en.htm

Website: Alternative Investment Management Association (AIMA) http://www.aima.org/en/

AIMA: AIMA’s campaign on the European Commission’s draft directive on Alternative Investment Fund Managers http://www.aima.org/en/directive-centre/index.cfm

Website: European Private Equity & Venture Capital Association http://www.evca.eu/

---