Forbes – The EU hedge fund industry should be free to offer its services across different member states and face fewer obstacles when marketing its products to investors, theFinancial Times quoted a European Commission report as saying.
The paper, which is due to be released today, urges policymakers and regulators not to burden hedge funds with additional regulation, and calls for the abolition of existingrules that restrict investor access to such funds.
The document was commissioned last year by Charlie McCreevy, EU internal market commissioner, and drafted by a experts from institutions including Goldman Sachs andPricewaterhouseCoopers.
‘As the (hedge fund) industry develops, the restrictions on cross-border marketing and portfolio construction are proving increasingly costly in terms of foregoneopportunities, legal uncertainty and compliance costs. These are increasingly hard to justify,’ the report states.
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