EU to get tough with hedge funds and private equity

| 10/05/2010

(The Guardian): The European parliament is expected tomorrow to approve a draft directive to toughen regulation of hedge funds and private equity firms despite a growing tide of opposition from leading politicians and lobby groups in the UK and America, where both industries are clustered. Labour’s City minister Lord Myners has described the proposed regulatory crackdown – being championed by France and Germany – as "fundamentally flawed and promot[ing] protectionism under the guise of protection". Both the Conservative party and Liberal Democrats have similar views. US treasury secretary Timothy Geithner has also been critical.

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