EU prepares to vote on new hedge fund rules

[dipsydoodle]

A key committee of Euro MPs is preparing to vote on a controversial new directive regulating hedge funds and venture capitalists.
>
The European Parliament's economics committee is set to vote on the legislation on Monday evening, then EU finance ministers will discuss it on Tuesday. The parliament and member states' governments have equal powers to shape the new regulations.
>
The legislation seeks to: limit the rewards paid to hedge fund managers; impose new marketing rules on non-EU hedge funds in Europe and on EU hedge funds investing outside of the EU; ban naked short-selling - that is, selling shares that the seller does not yet possess.
>
The legislation also seeks to curb highly-leveraged funds - that is, funds that borrow a high multiple of their capital to increase the size of their investment.

http://news.bbc.co.uk/1/hi/business/10117050.stm

Watch this space.