The current financial and economic crisis is a major catastrophy, and many people suffer from it. Together with its American friends, the PES works at finding solutions to end this crisis.
Part of the problem are the so-called hedge and private equity funds. These funds are a large industry with huge influence on financial market stability and the whole economy.
However this sector still remains unregulated. Assets in hedge and private equity funds stand at USD 3 trillion today and are expected to reach USD 10 trillion by the end of 2010. The biggest five equity deals together are larger than the annual budgets of all but 16 of the world’s largest nations.
The PES believes that action is needed to ensure that hedge and private equity funds operate in a way that benefits not only fund managers but also investors, workers and other stakeholders. Hedge and private equity funds need proper and efficient regulation and supervision within the framework of the EU and on the international level.
The PES has been active in defending regulation of hedge and private equity funds since 2007:
