McCreevy makes attempt to regulate alternative investment funds

EU COMMISSIONER CharlieMcCreevy has rolled out the world’s first attempt to regulate alternative investment funds and recommendations on capping and recouping bonuses from staff and directors in financial institutions.

The former Irish finance minister defended the measures and denied that they constituted a Trojan Horse in giving legitimacy to very risky investment funds.

Mr McCreevy insisted that hedge funds were an essential part of the economy and did not need to be punished. “The debate has been dominated by a very narrow perspective that want [hedge funds] to wither and fade away and it is time the other side was told.”