FACTBOX-How will new EU rules control hedge funds?
BRUSSELS, Oct 11 (Reuters) – France is ready to drop objections to a key part of a law to tighten rules on hedge funds in exchange for concessions from Britain, a senior diplomat has said, moving to end a row that threatened to harm relations with Washington.
Following are some key points about the proposed legislation.
May 19 (Reuters) – The European Union’s 27 countries and the bloc’s parliament agreed to tighten controls of hedge funds and private equity this week.
Negotiations will now begin between the two to hammer out a final version of the law to regulate the secretive industries by 2012.
Although some issues remain contentious, such as how the new law will treat foreign funds, both parliament and European countries have committed to set up broad controls on a sector many suspect exacerbated the financial crisis.
