Canada pooh-poohs German hedge fund proposals
Apr 4th, 2007 | Filed under: Hedge Fund RegulationIn a follow-up to a posting we ran a few months ago regarding the divergent view of Canadian and German financial regulators, the Canadian finance minister Jim Flaherty told Reuters earlier this week:
“There’s less concern in North America than in some parts of Europe about hedge funds. It’s really a transparency issue. I know there is some concern in some quarters about the perceived lack of transparency and a desire to regulate. It’s probably not achievable by particular countries.”
“We have more comfort in North America based on our experience with hedge fund transparency. We are more used to them”
In an impressive display of diplomatic subtlety, Flaherty commented on Germany’s push for multi-lateral regulation:
“We don’t share their enthusiasm.”
That’s German for “take a chill-pill, dude“.
