Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Economy

Demeter

(85,373 posts)

17. U.S. must wait for EU hedge fund "passports"

Reply to Tansy_Gold (Original post)

Fri Jul 31, 2015, 07:32 AM

Jul 2015

http://www.reuters.com/article/2015/07/30/eu-hedgefunds-regulator-idUKL5N10A3DZ20150730

The European Union faces a regulatory spat with the United States after the bloc's securities watchdog said it could not give U.S. hedge funds a "passport" to operate across the EU.

The European Securities and Markets Authority (ESMA) advised the EU's executive European Commission that hedge funds from Jersey, Guernsey and Switzerland should be allowed to operate across the 28-country bloc.

This would avoid the current more costly route of needing authorisation in each EU state they want to market their funds. Authorised EU hedge funds get a passport automatically.

ESMA said it could not recommend giving a passport to hedge funds from the United States, one of the world's top centres for the sector, because it risked creating uneven competition...

WILL AMERICA TAKE THIS LYING DOWN?

MORE AT LINK

THE EU MORE AND MORE RESEMBLES A CHAIN GANG

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

21 replies

= new reply since forum marked as read

Highlight:

STOCK MARKET WATCH -- Friday, 31 July 2015 [View all] Tansy_Gold Jul 2015 OP

Bill allows government to revoke Americans� passports without charges or trial Demeter Jul 2015 #1

THE ROAD TO FAILURE IS "GREECED" Demeter Jul 2015 #2

Lies, Damned Lies, and Greek Statistics (COMPARED TO ICELAND) Demeter Jul 2015 #5

The Greece debt bailout negotiations are really about France, not Greece Demeter Jul 2015 #6

Before Raiding The Bank Of Greece, Look At Their Balance Sheet! Demeter Jul 2015 #8

How Big Corporations Are Starving Public Schools of Billions of Dollars Demeter Jul 2015 #3

What�s Left of the American Dream Withers at Record Pace by Wolf Richter Demeter Jul 2015 #4

What Militarism Means Demeter Jul 2015 #7

UN sets principles for new debt framework (HOPE THIS SPIKES TPP AND CO) Demeter Jul 2015 #9

China's Headaches Are the Fed's, Too Demeter Jul 2015 #10

U.S. Calls Insider-Trading Ruling �Harmful� in Review Bid Demeter Jul 2015 #11

U.S. GDP Rises 2.3% in Second Quarter; First Quarter Revised Upward Demeter Jul 2015 #12

Fed Sheds No Light, Plays Charades with Media; Tiptoe Balancing Act Demeter Jul 2015 #14

Pacific trade negotiators chase elusive final deal in tough talks TPP Demeter Jul 2015 #13

One Email That Proves Campaign Finance Laws Are A Joke Demeter Jul 2015 #15

Judge Won't Let Medical Company Sell Itself Short Demeter Jul 2015 #16

U.S. must wait for EU hedge fund "passports" Demeter Jul 2015 #17

In US, 8 million baby boomers go hungry amid health and economic challenges Demeter Jul 2015 #18

The ways in which the economy never recovered from 2008 Demeter Jul 2015 #19

Americans� Economic Confidence Gets Mauled by Wolf Richter Demeter Jul 2015 #20

After Two Years, White House Finally Responds to Snowden Pardon Petition � With a �No� Demeter Jul 2015 #21