The rise and stature of hedge funds represents one of the biggest changes to the global economy over the past half century, and London has successfully established itself as one of the leaders in this new and innovative area.
However, this previously low-profile sector of the financial services world is now firmly in the sights of the European Commission. Its proposed Directive to regulate hedge funds and the private equity sphere betrays a lack of understanding of the workings of the business. Critics of these proposals regard the onerous reporting and disclosure regime as predominantly politically motivated. As a result, London's competitive position may be under threat.
Mark Field (Conservative MP for the Cities of London and Westminster, and former Shadow Financial Secretary to the Treasury) discussed the future of London's hedge fund industry in light of the EU's Alternative Investment Directive. He outlined what a future Conservative government should do to ensure London remains a world leader in this area.
November 3, 2009 8:00am to 9:30am