Brown intervenes in hedge fund talks

Spain's Minister of Economy and Finance, Elena Salgado, speaking at the end of the EcoFin meeting in Brussels on the 16 March 2010 said that the Spanish EU Presidency is maintaining the goal of sealing a European agreement on the regulation of hedge funds before the end of the six-month term of Spain's Presidency of the EU at the end of June 2010. This was after a discussion and vote on the proposed Directive was taken off the agenda of the 16 March 2010 EcoFin meeting at the request of the UK Government.

The European Parliament, as co-legislator, also needs to vote on the proposed Directive.

Spain: EU Presidency: Press Release, 16.3.10: Spanish Presidency of the EU maintains goal of sealing agreement on hedge funds during its six-month term http://www.eu2010.es/en/documentosynoticias/noticias/mar16finalecofin.html

EurActiv, 17.3.10: US warns EU of financial reform clash http://www.euractiv.com/euro-finance/us-warns-eu-financial-reform-cla-news-348532

EurActiv, 16.3.10: EU hedge fund talks collapse http://www.euractiv.com/en/financial-services/eu-hedge-funds-talks-collapse-news-347534

ESO: Background information: Hopes rise of compromise deal on hedge fund rules http://www.europeansources.info/record/hopes-rise-of-compromise-deal-on-hedge-fund-rules/

BBC News, 16.3.10: Hedge fund rules vote to be delayed http://news.bbc.co.uk/1/hi/business/8569962.stm

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