NEWS

Bloomberg correspondents Ben Moshinsky and Stephanie Bodoni report (May 11) that EU Internal Market Commissioner Michel Barnier says a “final agreement between the U.S. and EU on rules to regulate hedge funds is ‘possible soon.’ “

“ ‘The debate on hedge funds and private equity is in the last stretch,’ Barnier said. “We’re working on the basis of a proposal from my predecessor in conditions that were extremely rapid and fast so this text needed improvement and has been improved,” Barnier said in response to questions. “I’m going to talk to Secretary Geithner about it and avoid all types of discrimination.’

“ ‘The main issue for hedge funds on this side of the pond is reciprocity,” James Chanos, a hedge fund manager and founder of Kynikos Associates Ltd., said. ‘Will our U.S. regime pass muster for the EU?’ “