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No Hedge Fund Regulation From The Eu

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by Felix Salmon
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May 09 2007 12:00am EDT

No Hedge Fund Regulation from the EU

Good news on the hedge-fund regulation front in the WSJ today. It's the Germans who have been keenest on trying to implement some kind of direct regulation of hedge funds, but yesterday German finance minister Peer Steinbrück said outright that "the regulatory approach is the wrong one". He was backed up at the EU level, too:

The man who could draft EU rules to regulate hedge funds -- EU Financial Services Commissioner Charlie McCreevy -- said he sees no need to do so because the industry contains its own checks and balances and is so far working well.

There will always be a lot of anti-hedge-fund rhetoric in Europe. But judging by this story, at least, we can expect that such rhetoric will remain just that, and never turn into action.

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