He’s said it before and has said it again. Charlie McCreevy, the internal markets commissioner for the European Union, once more has made clear his support for hedge funds, and the entire investment industry for that matter. On Wednesday, McCreevy called on the regulators and governments of member states to remove all restrictions from hedge funds, private equity groups and retail investment funds in an effort to make the lives of industry players easier. Echoing comments he’s made in the past – though Dow Jones Newswires calls it his “first and strongest statement” on Europe’s €253 billion (US$316.7 billion) HF industry – McCreevy noted that the different rules and regulations make doing cross-border business a drag. “European hedge fund managers are not always able to choose service or liquidity providers from across Europe,” McCreevy said, reporting on findings of various reports on the industry on the continent. He also urged member states to go lightly on private equity. “A lot of lip service has been paid over the years to addressing Europe’s failure to develop financing for unlisted companies,” McCreevy said at the meeting. “This report gives member states a chance to turn rhetoric into action.”