Managing Partner Martin Cornish Quoted in HFMWeek on EC Draft Directive

Martin Cornish, the firm’s Managing Partner, was quoted in an article in HFMWeek on the turmoil surrounding the European Commission’s proposed draft directive, which comes down heavily on hedge funds for contributing to “market turbulence.” The directive has been heavily debated in the weeks leading up to EU elections in June. “It may be the sort of thing that I guess we were all fearing, which is a bit of a knee-jerk reaction and something that’s heavily politically motivated,” Mr. Cornish says. Critics of the directive also note that it lacks a unified approach. “Given everything that’s going on, the efforts by the new Financial Stability Board, Iosco etc, you would have thought that it all would have been co-ordinated,” Mr. Cornish adds. (“Theatre in the Round,” 30 April–6 May 2009)