France & Germany May Force Financial Reform On US [View All]

There was a thread abut this yesterday but it didn't get much play. Europe is set to force us to regulate hedge funds IF we want to continue doing business with them.

“European countries led by France and Germany plan to push through controversial hedge fund regulations next week after turning down British pleas to defer a vote in Brussels.

The refusal by Paris and Berlin to delay a decision on the new rules, which are opposed by the U.K., has set up a bruising early confrontation with David Cameron’s new government.”

The Americans are going absolutely ape,” said a person involved in the negotiations. “There’s this overwhelming belief now in Europe that if we legislate first, then the US will follow what we do.”…cont…

http://www.theglobeandmail.com/report-on-business/hedge-funds-vote-threatens-eu-us-rift/article1568738/?cmpid=rss1

“FT.com) — European countries led by France and Germany plan to push through controversial hedge fund regulations next week after turning down British pleas to defer a vote in Brussels. The refusal by Paris and Berlin to delay a decision on the new rules, which are opposed by the UK, has set up a bruising early confrontation with David Cameron’s new government. The directive has also caused concern in the US. Tim Geithner, Treasury secretary, wrote to EU officials in March warning that, if unchanged, the new regulations could trigger a transatlantic rift by unfairly locking US funds out of European markets.”

http://www.atlantapost.com/2010/05/vote-on-hedge-funds-threatens-eu-us-rift/