French economy minister criticises EU hedge fund plan

Guardian Unlimited – Aspects of a planned European Commission directive to regulate hedge funds do not go far enough and must change to protect investors, French Economy Minister Christine Lagarde said in remarks published on Monday.

The commission is due to publish its draft directive on governing hedge funds on Wednesday, against a backdrop of growing political pressure for increased regulation of institutions seen as posing systemic risks.
"The good side of the directive being prepared by the commission is that it establishes (a) surveillance (system) on hedge funds," Lagarde told French daily Le Figaro.

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