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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Tags: aima, alternative-investment-management-association, conflict, draft directive, european commission, financial-services, hedge fund, implementation, investment management association

MSN UK News – Business leaders around the world back greater regulation in response to the global financial crisis, a survey showed on Wednesday, with support strongest for curbs on credit rating firms, hedge funds and structured finance.

Responses from more than 700 chief executives, chairmen, partners and directors across Asia, Europe and the United States were received between November 4th and 6th.

The survey, conducted by international law firm Allen & Overy, was timed ahead of this weekend’s Washington DC summit on the deepening crisis between the leaders of the Group of 20 leading world economies.

More than three-quarters of those polled agreed that more regulation of credit rating agencies was necessary, while two thirds supported greater regulation of hedge funds.

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Tags: china-morning-post, conflict, corporate-earnings, court-of-appeal, credit-crisis, deringer, donors, finance-services, guarantors, henry-m-paulson, kary, market-timing, newcastle, prepared-statement, sebi, sunday-times