Reuters Italia – EU Internal Market Commissioner Charlie McCreevy ruled out introducing new rules to regulate hedge funds, saying they played a key role in putting the “fear of God” in companymanagement and boards to the benefit of all.
“My own view on hedge funds is I don’t see a compelling case for specific EU legislation,” the bloc’s top market regulator told the European Parliament’s economic affairs committee on Thursday.
McCreevy was asked by lawmakers whether the EU executive would act against Germany for planning to lower to 3 percent the threshold for notifying the market of a stake in a company.
The typical threshold in the EU is about 5 percent and the German step is seen by some as making it harder to mount a takeover.
