Charlie McCreevy welcomed the publication of the Commission's proposal for a Directive for alternative investment fund managers. He contrasted the rules in the Directive that are common to all parts of the industry with those that apply specifically to hedge funds. He said the Commission has followed the G20 recommendations "to the letter". He acknowledged that some think the proposal has gone too far while others think it has not gone far enough. He discussed also the proposals for remuneration and packaged retail investment products. Full text of all proposals is now on the Commission's website.