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EU directives don't help the markets

Monday, 14th September 2009

Letter to London Evening Standard

Sir,

News reaches me in Strasbourg that the biggest climber of the day on the stock market last Friday was hedge fund manager Man Group, which shot up 9% after announcing plans to open a fund which will be exempt from new European Union directives. I have been trying to get both the European Commission and the European Parliament to understand that the more they meddle, the more investors are going to vote with their feet. The evidence mounts.

Yours faithfully,

Syed Kamall
Conservative MEP for London

Shadow Rapporteur on the Alternative Investment Fund Managers Directive