Stanley Fink, the former chief executive of Man Group, said in an interview with the FT that the European Commission??s proposed regulation would be ??very restrictive? for non-EU funds and some styles of investing.
??That could, and probably would, lead to retaliatory action whereby European hedge funds will be stopped from marketing in other jurisdictions [such as the US] ?? and that could be very bad for the industry,? he said. Asked if the restrictions could spark an international hedge fund war, he said: ??I think that could be one of the unintended consequences.?
Mr Fink, who is now chief executive of ISAM hedge fund and co-treasurer of the UK??s opposition Conservative Party, criticised the Labour government for its failure to defend the UK financial services industry. ??It is hard to imagine that legislation that harmed agriculture wouldn??t have been killed at birth by the French, and legislation that damages the car industry wouldn??t have been stopped by the Germans,? he said.
