EU tries to break logjam on hedge funds

Article reports that a fresh effort to unblock the logjam over new EU rules to regulate hedge funds and private equity funds and allay US fears of regulatory protectionism was being spearheaded in the European Parliament in April 2010.

Meanwhile, Michel Barnier, EU Internal Market Commissioner was said to be also working behind the scenes to persuade Paris and London to move their positions so that a deal can be struck.

The proposed law needs to be agreed both by the European Parliament and EU Member States in the Council of the European Union.

ESO: Background information: Brussels reassures US on financial regulation http://www.europeansources.info/record/brussels-reassures-us-on-financial-regulation/

ESO: Background information: Brown intervenes in hedge fund talks http://www.europeansources.info/record/brown-intervenes-in-hedge-fund-talks/

European Commission: DG Internal Market and Services: Investment funds: Alternative investments http://ec.europa.eu/internal_market/investment/alternative_investments_en.htm

European Parliament: Legislative Observatory: Alternative Investment Fund Managers http://www.europarl.europa.eu/oeil/popups/ficheprocedure.do?id=577403

Council of the European Union: Proposal for a Directive of the European Parliament and of the Council on Alternative Investment Fund Managers and amending Directives 2004/39/EC and 2009/65/EC - General approach, March 2010 http://register.consilium.europa.eu/pdf/en/10/st07/st07378.en10.pdf

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