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Hedge Fund Law Opposed by U.S, U.K. Set for EU Votes

BusinessWeek – A European Parliament committee may approve a proposal tonight to force hedge funds outside the EU to agree to transparency standards in exchange for a so-called passport to market to investors in the 27-nation bloc.

EU finance ministers are scheduled to vote tomorrow in Brussels on a version of the rules that would require funds to register separately in each country. Both proposals have been opposed by the United States and the United Kingdom.

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