European Parliament OKs Final Hedge Fund Rules

Law360, New York (November 11, 2010, 12:03 PM EST) -- The European Parliament on Thursday voted in favor of strict new registration, reporting and capital requirements for hedge funds and private equity firms doing business in the 27-nation bloc, bringing an end to more than 18 months of negotiations as lawmakers seek to increase transparency in the sector.

Members of Parliament voted 513-92, with three abstentions, to approve the Alternative Investment Fund Managers directive after reaching an agreement with the Council of the European Union late last month.

The new rules, which are slated to take...
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