Law firm predicts exodus of hedge funds from EU

| 14/12/2009

(FT.Com): Every hedge fund will leave the European Union if proposals to clamp down on the sector’s remuneration policies are adopted, a leading law firm has said. Freshfields Bruckhaus Deringer said if the proposals became law the impact would be “rapid and decisive…no hedge funds will operate from within the EU”.  Sweden, which holds the EU’s rotating presidency, proposed last month that hedge funds should be barred from using fees earned from successful parts of their business to pay staff working in underperforming areas and that up to 60 per cent of pay should be deferred for up to three years.

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