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On 4 March 2009, the Commission published its Communication for the Spring European Council which stated that in April 2009 the Commission would propose:"A comprehensive legislative instrument establishing regulatory and supervisory standards for hedge funds, private equity and other systemically important market players."
On 18 March 2009 the FSA’s Chairman, Adair Turner, delivered his much anticipated Review setting out a number of recommendations to deal with what many have called the greatest crisis in the history of finance capitalism
