UK EU Hedge Fund Rules
UK's Brown and Sarkozy Meet Over EU Hedge Fund Rules
U.K. Prime Minister Gordon Brown said Friday he is "confident" the U.K. will reach agreement in the coming days with its European partners on the new European Union hedge fund rules. Brown said: "we've had good talks on this and I'm pretty confident that we can get a very satisfactory outcome in our discussions over the next few days."
Sarkozy said the U.K. and French teams will continue working together on the new directive, which the U.K. has said poses real dangers to the hedge fund industry. However, Sarkozy said he doesn't want to see the City of London harmed. Sarkozy said he hopes for a solution that ensures "transparency" in the sector but makes sure that "the City, which is a major asset for Europe, does not feel harmed or threatened."
EU finance ministers will discuss the new hedge fund rules when hold their monthly meeting Monday and Tuesday. Source
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