International Herald Tribune – European Socialists on Thursday urged stronger international regulation of equity and hedge funds, predicting assets of such funds will triple in the next three years.
A lack of transparency could affect the broader economy, delegates warned in a resolution adopted at a two-day council of the Party of European Socialists.
Assets in hedge and private equity funds stand at US$3 trillion today and are expected to reach US$10 trillion by the end of 2010, it said.
The resolution said the rules of disclosure and transparency should apply to hedge funds.
“It is about re-establishing respect among the financial markets for the needs of the real economy,” said Poul Nyrup Rasmussen, a former Danish prime minister who heads the Party of European Socialists.
