Economic and Monetary Affairs Commissioner Joaquin Almunia told the European
Parliament yesterday it would base its public consultation on hedge funds on the
premise they ‘must be regulated’.
His statement came after Charlie McCreevy, the bloc’s internal market
commissioner, on Monday launched the public consultation on whether hedge funds
needed more oversight,
Although the results of the consultation will not be known until early next
year, the EU assembly already said in a report the sector needed regulating,
which has been supported by a large majority.
‘Two years ago we had the last consultation on hedge funds,’ Poul Nyrup
Rassmussen, the report’s author and Danish socialist lawmaker, said. ‘We don’t
need more consultation. We need regulation. We know exactly what are the
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