Europe Set to Ease Rules on Hedge Funds

October 20, 2010 James Heinsman Hedge Fund News

European Union Hedge FundsFinance ministers across the European Union have come to an agreement on rules to allow foreign hedge funds to do business throughout the 27 member states of the EU. This deal comes as a relief to Britain, home of the European hedge fund industry, according to The New York Times.

The agreement on hedge funds was reached on Tuesday, yet still requires final approval of the European Parliament. The deal helps senior European Union officials show unity ahead of a meeting of finance ministers of the Group of 20 nations.

Earlier versions of the rules were set to cause funds to register in each member state of the Union. Britain stood opposed to the initial draft as it  raised concerns that firms would leave London, lowering its importance as a financial hub. The newer bill safeguards London’s status.

European Union, uropean hedge fund industry,

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