Hedge funds to rebuff German regulators

According to reports, updated guidelines on best practice published by hedge fund industry associations on 22 May will not heed German calls for a full voluntary code of conduct for the industry.

The industry's two main trade associations, London's Alternative Investment Management Association (AIMA) and the American Managed Funds Association (MFA), said they had no plans to produce a voluntary code of conduct. One described the German plan as "woolly".

AIMA will replace its guide to "sound pra