EU Committee OKs Boards, Delays Hedge Fund Vote

Law360, New York (May 10, 2010, 2:59 PM EDT) -- A European Parliament committee voted Monday to create new supervisory authorities in the banking, insurance and securities industries, but delayed voting on a plan to impose stricter rules on hedge funds and private equity firms.

The Committee on Economic and Monetary Affairs backed the European Commission's plans to create the European Systemic Risk Board and three sector-specific supervisory authorities for banking, insurance and pensions, and securities and markets.

But it said it needed more time to review the Alternative Investment Fund Managers Directive to give more...
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