The secretive world of hedge funds is no more
The European Union has today rubberstamped the introduction on new rules and regulations relating to hedge funds and private equity funds within Europe. This comes despite the fact that George Osborne made a last-minute attempt to water down the proposed regulations in a face-to-face meeting with European Union ministers. However, unfortunately it appears that most of the work had been done prior to the introduction of George Osborne into the argument and effectively pay, borrowings and the rules governing disclosure for hedge funds and private equity companies will change very soon.
While all in all it has been a difficult day for George Osborne he did register a small victory with the rejection of a proposal to offer one licence to foreign funds to do business across the whole of Europe.
There is a growing belief that this is stage one of yet another attack on the London investment markets, markets which have for many years been the most competitive in the world and even taken on and beaten the likes of the US. However, it looks as though the influence of the London stock market and other investment markets has grown too much according to the European Union and needs to be reined in.
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