EU puts Scotland’s small hedge fund sector in jeopardy

``There are a number of dangers in the EU's regulatory move, as Florence Lombard, chief executive of the Alternative Investment Management Association (AIMA), warned in what, for AIMA, was a harshly worded response. Calling the draft legislation "disproportionate and punitive" (punitive since many politicians seem to labour under the misapprehension that the global recession was somehow caused by the unregulated nature of the hedge fund sector, instead of by the antics of supposedly well regulated bankers), Lombard warned that the logical response to a heavy-handed regulation of Europe-domiciled hedge funds would be a flight to other, lighter-touch jurisdictions.''