Helvetic criticises EU approach to hedge fund regulatory changes

Gibraltar based Helvetic Fund Administration has criticised the EU’s approach to hedge funds, stating that the European Commission has picked the wrong time to focus on introducing liquidity buffers and leverage caps.

Nicola Smith, CEO, said that managers are struggling enough as it is with implementing AIFMD, and need to focus on AIFM passports with the support from European institutions and clear guidance from national regulators.

“The lack of detailed information, combined with the delays from ESMA, has already lead to uncertainty and turbulence amongst EU based funds over the implementation of AIFMD,” she said.

“In order to become compliant, fund managers have been tasked with gathering and reporting large volumes of information without having the necessary reporting tools such, as forms and formats available. This latest news from the EU, requesting the need for further regulation, will only serve to cause more confusion.

“The real concern in all of this is a large amount of fund managers are still unsure about the requirements of AIFMD and have not fully understood what is needed. What is needed from the EC is transparency. A leaked report only causes more confusion and panic – by having a clear and transparent set of regulatory proposals, hedge funds will know exactly what is needed of them, providing much greater clarity.”


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