A new era

Germany's proposed regulatory changes to take effect in 2004 will not only affect hedge fund operators looking to target the market. Administrators are also gearing up to meet the challenges the new laws will provide for them.

Claude Noesen, director of sales in Luxembourg for Bank of Bermuda's Global Fund Services, says Germany's regulator, BaFin, anticipates the changes will only have 'minor effects' on administrators to hedge funds. He says administrators will 'simply need to change their sys