Business regulation – EU hits back at Geithner on regulation

Hedge fund rules ‘in line’ with G20 push on transparency

Top European Union officials hit back on Thursday at criticism from Tim Geithner, US Treasury secretary, who has accused Brussels of pushing ahead with rules to regulate managers of hedge funds and other alternative investment funds that could be protectionist.

A spokesman for Michel Barnier, the new EU internal market commissioner who is responsible for financial services regulation and to whom Mr Geithner addressed his concerns, said that the EU decision to act on hedge funds was in line with a G20 decision to reinforce transparency in the financial system.

Full Story: FT.com / Brussels / Business regulation – EU hits back at Geithner on regulation.

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