EU close to a deal on hedge fund regulation
EUROPEAN commissioner Michel Barnier yesterday signalled the EU was close to agreement with the US on controversial plans to clamp down on hedge funds and private equity.
Barnier said Brussels and Washington were “in the last stretch” of thrashing out a compromise, according to Bloomberg.
America has been a harsh critic of the EU’s proposed Alternative Investment Fund Managers (AIFM) directive, which would prevent fund managers from outside the EU marketing their products to EU investors unless they complied with AIFM’s tough rules on leverage and pay.