Sub-prime turmoil revives attempts to self-regulate

German, French and British premiers will draw up new proposals on the self-regulation of hedge funds...

German, French and British premiers will draw up new proposals on the self-regulation of hedge funds by spring next year following the recent turmoil in financial markets. Prime Minister Gordon Brown said he will host German Chancellor Angela Merkel and French President Nicolas Sarkozy for a meeting on financial market stability this month. Although the main topics and other key details of the meeting are yet to be determined, the German side is pushing for Italy to be included. Germany made greater transparency for the $1.6tn hedge fund industry a key theme of its presidency of the G...