It has enlisted consultancy firm CRA International to carry out an analysis of the plans, which will assess the financial benefits and drawbacks of their introduction.
An FSA spokesperson told Dow Jones Newswires: "It's important for the regulator to understand the possible implications of the directive and to assess the quantity of its impact on markets."
The EU plans have been criticized by the hedge fund industry, which is hoping that the report will provide further evidence that the measures must be altered before they are introduced.
Hedge fund lobby group the Alternative Investment Management Association has welcomed the move and called on Brussels to conduct its own cost analysis survey.
Earlier this month, research by Lakefront Data Ventures found that hedge fund employees are among the best-paid workers in the North American and European finance and data management sectors.
Written by Asim Shah