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Senator says U.S. may hit back over EU fund rules

Reuters – The United States should retaliate if a European Union proposal to curb access for U.S. fund managers to the European markets becomes law, a senior U.S. lawmaker says.

Planned EU limits on hedge funds are “protectionist rules that discriminate against U.S. firms and activities,” Democratic Senator Charles Schumer of New York said in a letter to U.S Treasury Secretary Timothy Geithner, dated Tuesday.

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