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Draft EU law on hedge funds needs rewriting, says association  

EurActiv.com – The European Commission’s draft directive on hedge fund regulation is potentially ambiguous and needs to be rewritten, an industry body said on Friday (22 May).

"The particular problem with the draft directive [...] is that it is written in such an unclear way that it is open to ambiguous interpretation," said the Alternative Investment Management Association (AIMA). 

"Implementation in its current form could prove to be unworkable. It also appears to be in conflict with existing financial services directives," said AIMA, which represents more than 1,200 hedge fund firms worldwide.

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