EU's Barnier: deliberation on hedge fund rules soon

Date: Wednesday, May 12, 2010
Author: Reuters

European Commissioner for Internal Markets and Services Michel Barnier said on Tuesday that European Union ministers and parliament will begin deliberations on new hedge fund regulations in a few days in an effort to ensure that they do not escape regulation.

Barnier, who is in Washington to meet senior U.S. regulatory officials including U.S. Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke, said such regulations must be coordinated with rules in the United States.

"My road map is extremely clear. No market, no product, no territory will escape regulation that is both intelligent and efficient," Barnier said through an interpreter.