European Parliament backs rules for hedge funds

11/11/2010 | Reuters · Google

EU member states have approved rules for hedge funds and private-equity managers, and the European Parliament has endorsed the rules. "The adoption of the directive means that hedge funds and private equity will no longer operate in a regulatory void outside the scope of supervisors," said Jose Manuel Barroso, president of the European Commission. Although the rules will shine a light on the sector, they are not as strict as some in the industry had feared.

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