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Campaigning against damaging EUlaws

BACK in April, when we exclusively revealed that the FSA was &ldquo;hopping mad&rdquo; at European plans to regulate the hedge fund industry, we decided that we were too. So we launched our first ever campaign &ndash; against the European directive on the alternative funds industry. <br /><br />Since then, other newspapers have jumped on the bandwagon and started their own campaigns, but we don&rsquo;t mind: the more the merrier. The most important thing is that this legislation &ndash; which proposes leverage limits and an onerous disclosure regime &ndash; is stopped.<br /><br />Hedge funds and private equity houses are not responsible for the financial crisis, regardless of what populist politicians would have us believe. They are simply an easy target.<br /><br />Recent noises suggest that the directive could be watered down. If it is, it will be a victory for the alternative funds industry &ndash; and this newspaper. <br />