UK FSA expresses concern about excessive EU rules

Financial Services Authority's Dan Waters says regulators should gather more information about the systemic risks hedge funds pose

Financial Services Authority building

The UK Financial Services Authority (FSA) has warned that the European Union's attempts at "misguided" regulation could drive hedge funds out of Europe and wants a "proportional" solution to pay.

While it "might be possible for a hedge fund or a group of them to become systemic or to have a disruptive effect in markets", the FSA has "taken steps in the UK to address these concerns by gathering extensive information from both hedge fund managers and their prime brokers, in order to assess the

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