EU to back use of hedge funds - papers 5th July

According to the paper, the commission will say hedge funds should pose little or no risk to financial stability and should receive only "light-touch" regulation. The commission yesterday published a report from hedge fund practioners including Gartmore, RAB Capital and Goldman Sachs in the UK, which makes a "strong" case, according to Brussels, that the industry has made "a positive contribution to sound functioning of financial markets without receiving intensive scrutiny/oversight from regulators." The majority of a group of hedge fund managers, representing an industry worth $325bn...