France's hedge fund plans 'not the answer'

French finance minister Christine Lagarde has pressed for better controls on hedge funds plus higher capital requirements for banks with 'risky' hedge fund clients. Speaking at the G7 meeting in Rome, Lagarde urged the EU to beef up control over hedge funds via prime brokers. However, Jérôme de Lavenère Lussan, managing director of Laven Partners believes while there is a need to look at the financial industry in its entirety, the financial crisis started with the banks and "new regulations for hedge funds are not the answer". He says there are plenty of internal hedge fund and propri...