May 12, 2010 / 6:31 PM / 7 years ago

EU official seeks "balanced" hedge fund rules

WASHINGTON (Reuters) - The European Union's financial markets chief said on Wednesday he would seek a "balanced" approach toward tightening regulation on hedge funds so as not to discriminate against U.S. firms.

Michel Barnier, speaking to reporters after a meeting with Treasury Secretary Timothy Geithner, said he would try to persuade European governments to accept a "passport" approach where foreign funds could get a license to do business across all 27 EU countries if they meet European standards.

"If we end up with a passport, it will be a passport that will have to be deserved," he said.

Reporting by David Lawder, Editing by Chizu Nomiyama

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below