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Hedge funds hope for voluntary standards

Thirteen of Europe's largest hedge funds are hoping to stave off political pressure for greater industry regulation by getting Sir Andrew Large, a former deputy governor of the Bank of England, to head a study group examining voluntary standards.

Fund managers are increasing coming into the regulatory radar over concerns that they have too much market power and pose financial stability risks.

Any code drawn up by the new group is unlikely to placate German, French and Dutch critics of hedge funds

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