Fink warns of hedgie war

<div>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.<br /><br />Fink, who is chief executive of the ISAM hedge fund, said the EC&rsquo;s draft directive would meet with a backlash from non-EU funds whose freedom of movement would be restricted by the proposals.<br /><br />He told the Financial Times the&nbsp;directive &ldquo;could, and probably would, lead to retaliatory action whereby European hedge funds will be stopped from marketing in other jurisdictions&rdquo;.<br /><br />City minister Lord Myners is due to give a speech today outlining the UK&rsquo;s efforts to secure changes to the EC draft directive.</div>