• From The BBC:

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    Boris Johnson objects to plans to regulate hedge funds
    EU plans to regulate hedge funds are a “blatant attack” on London’s role as an international financial centre, the mayor of the city has said.Boris Johnson added that suspicions ministers in Paris and Berlin were using the proposals to deliberately target London were “not unfounded”. Mr Johnson fears plans to require hedge funds to be more open will drive many to relocate outside the EU. He visits Brussels later to lobby for a draft European directive to be changed. Hedge funds use sophisticated, complex investing strategies to make returns, even when markets are falling. PenaliseUnder the EU plans, they would be required to be more open and their ability to borrow would be limited. London is currently the home of 80% of Europe’s hedge funds, but they could be tempted to move to Switzerland and the US, the mayor argues, saying the directive would penalise all of the UK…

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    Posted by Jon @ 6:31 am

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