Hedge-Fund Rules Approved by EU Finance Ministers
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Hedge-fund and private-equity regulations were approved by European Union finance ministers after they ended a dispute over requirements for fund managers from outside the EU.
Ministers agreed to give the Paris-based European Securities and Markets Authority powers over a so-called passport system for non-EU hedge-fund managers. The passport would give managers access to investors across the 27-nation EU with a single registration in return for signing up to transparency rules.