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EU passes new hedge funds rules

11-12-2010 09:07 BJT

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European Union lawmakers have approved new rules subjecting hedge funds and private equity funds to EU-wide supervision for the first time.

The European Parliament passed the regulations on Thursday, after nearly two years of difficult governmental negotiations. The new rules oblige all hedge funds operating in the EU to obtain authorization, and subject them to regulation and supervision, in order to increase transparency.

An "EU passport" system for hedge funds will also be introduced for the first time. It will allow managers to market to investors throughout the bloc. The new European Securities and Markets Authority will issue passports to non-EU hedge funds, as well, and allow them to operate across the continent.

Editor:Du Xiaodan |Source: CNTV

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