According to media reports, the German financial regulator is considering whether to relax hedge fund tax reporting rules following criticism of the regulations from within the industry.
"There will be a circular in the next one to two weeks telling the industry what reporting is exactly expected and what isn't," announced the deputy head of the German finance ministry's unit for investment issues, Joerg Vollbrecht.
The development follows numerous complaints from the German hedge fund sector over the reporting requirements contained in the new retail hedge fund laws launched earlier this year. Vollbrecht added that the ministry in charge of drafting the regulations has recognised that many of the reporting requirements are needlessly excessive.
According to estimates, the loosening of German hedge fund restrictions could result in net assets inflows of up to $9 billion.
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