Man Group attacks plans to shut FSA
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The coalition Government’s decision to axe the FSA has hampered London’s ability to fend off damaging EU regulation, according to Man Group chief executive Peter Clarke.
Clarke told the Financial Times that the UK’s bargaining position has been “impaired”.
He said: “The FSA has demonstrated over many years successful oversight of the hedge fund industry. The FSA should take some credit for that.”
Clarke said he is concerned about whether the new twin peaks model will have the same success.
He said: “What we are all concerned about is whether the organisation that succeeds it is properly equipped and resourced.”
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Readers' comments (3)
Exasperated me | 15 Nov 2010 12:32 pm
[He said: “The FSA has demonstrated over many years successful oversight of the hedge fund industry. The FSA should take some credit for that.”]
Well I never, the FSA has been doing something all these years.
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Hacked OFF | 15 Nov 2010 1:08 pm
If the bloody FSA had concentrated on the banks and hedge funds, we would all be in a better place today.
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Simon Astley | 15 Nov 2010 2:38 pm
Think Man is a v sucessful business but for the CEO to praise the FSA for regulating hedge funds.......................? To report his comments with reaction is laughable. Come on guys you can do better.
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