Hedge funds condemn plans for leverage limits

A draft European Commission directive would tighten European oversight of hedge fund managers, including leverage limits, increased disclosure and minimum capital requirements.

The EC has not previously attempted to regulate alternative investment funds, other than the retail funds covered by the Ucits directive - non-Ucits funds in the EU are thought to control EUR2 trillion in assets.

Although these funds were not as badly harmed by the credit crisis as other parts of the financial system, the d

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