Campaigning against damaging EUlaws
BACK in April, when we exclusively revealed that the FSA was “hopping mad” at European plans to regulate the hedge fund industry, we decided that we were too. So we launched our first ever campaign – against the European directive on the alternative funds industry.
Since then, other newspapers have jumped on the bandwagon and started their own campaigns, but we don’t mind: the more the merrier. The most important thing is that this legislation – which proposes leverage limits and an onerous disclosure regime – is stopped.
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.
Recent noises suggest that the directive could be watered down. If it is, it will be a victory for the alternative funds industry – and this newspaper.