European lawmakers to back hedge fund clampdown

[Joanne98]

Source: Reuters

(Reuters) - European lawmakers on Monday will approve tighter controls on hedge fund and private equity firms as political leaders seek a clampdown on speculators following Greece's debt crisis.

The moves to control and monitor hedge funds' borrowing, investment and compensation are due to become law in 2012. They also need the blessing of European Union countries and remain mired in a dispute between Britain and France.

The European Parliament's approval will accelerate the introduction of controls on hedge funds and speed up a wider regulatory overhaul of European financial services.

It coincides with a summit of European leaders set to approve aid for debt-laden Greece and call for swift action against speculators.



Read more: http://www.reuters.com/article/idUSTRE6464BL20100507

[T Wolf]

1. Now this is a European import we can really use in this country. nt

[pampango]

2. Good to see the EU leading the way on tighter financial market regulation. n/t