The G8 code of conduct for the hedge fund industry might be releases “in the nest few months,” German Finance Minister Peer Steinbrueck said, according to Agence France Press. “I think that’s possible,” he said before a meeting with G8 finance ministers of Britain, Canada, France, Italy, Japan, the U.S. and Russia.
German leaders have been particularly vocal about the potential risks to financial stability that hedge funds may pose.
Jean-Claude Trichet, president of the European Central Bank, said there was an “emerging consensus” among leaders. Britain and the U.S. have been most skeptical in the past, as both nations house a large portion on the $1.4 trillion industry.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.