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EU hedge fund rules attacked

Date: Tuesday, April 21, 2009
Author: Gwen Robinson, FT.com

The European Commission’s plans to regulate hedge funds and private equity threaten to become a key issue in the European parliamentary election campaign after key MPs on Monday criticised draft proposals as “almost worthless”. In a letter to José Manuel Barroso, Commission president, the Socialist group, the second-largest bloc in European parliament, said the proposal was so “filled with loopholes” that it would be “highly ineffective”.