EU Committee Approves Hedge Fund Restrictions

Law360, New York (May 17, 2010, 7:00 PM EDT) -- A European Parliament committee on Monday approved a package of new rules that would require hedge funds based outside the European Union to register with regulators in each member state and bar the marketing of hedge funds based in certain countries within the bloc.

By a vote of 33-11, with three abstentions, the EP's Economic and Monetary Affairs Committee approved the package of new regulations on hedge funds, private equity firms and other alternative investment funds.

European finance ministers are set to meet Tuesday night to...
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