G20 want to enhance asset management control

According to Reuters, the twenty largest industrial and emerging economies are planning to allow regulators to control fund manager’s operations in crisis situations.

The plan is to be discussed on the next G20 meeting in Australia in November. Previously, the G20 were seeking for less control in the financial industry. According to insiders, the G20 want to allow regulators to control operations including trades of hedge fund managers if the market situations required this.

The London based asset management lobby group “Investment Company Institute” is already complaining that this is not acceptable. Continental Europe asset manager are not as offensive and keep calm because they fear even harder regulatory changes.