Fink warns of hedgie war

By:

Add as a preferred source on Google

HEDGE fund guru and former Man Group boss Stanley Fink warned yesterday that European Commission (EC) plans on regulation of the alternative investment industry could spark a war with US hedge funds.

Fink, who is chief executive of the ISAM hedge fund, said the EC’s draft directive would meet with a backlash from non-EU funds whose freedom of movement would be restricted by the proposals.

He told the Financial Times the directive “could, and probably would, lead to retaliatory action whereby European hedge funds will be stopped from marketing in other jurisdictions”.

City minister Lord Myners is due to give a speech today outlining the UK’s efforts to secure changes to the EC draft directive.