Unions Ask EU To Tighten Hedge Fund Regulation

Law360, New York (August 20, 2007, 12:00 AM EDT) -- European trade unions have lashed out against the European Commission over the recent subprime mortgage crisis, accusing regulators of ignoring repeated warnings about dangers in the hedge fund and derivatives markets.

The European Trade Union Confederation on Monday called on the EC to take action to help end the financial meltdown, urging an investigation into credit rating agencies, bank involvement in hedge funds and credit markets, the lack of transparency in derivative markets and the lack of effective regulation.

Regulators must act quickly in order to...
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