Call for common European definition

There needs to be a common definition of hedge funds across Europe to avoid the problems encountered by the mutual fund industry.

Speaking at an Implementing Ucits III seminar in London, Jose-María Fombellida, head of division for the European Commission, said the only real way to regulate a hedge fund is, indirectly, by leverage.

Huge borrowings can affect the financial system, one of the problems he sees with the vehicle. At the moment, he noted, many countries are also in the process of

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