G20 Says Hedge Fund Regulations Should Be ‘Non-Discriminatory’

Jun 8 2010 | 10:23am ET

The British and United States won the backing of the Group of 20 in their battle against the European Union’s proposed new hedge fund rules, but is it too little, too late?

The G20 meeting in Seoul, South Korea, produced a communiqué that called for hedge fund regulations, but urged countries to pursue them in a “non-discriminatory way.” Presumably, the reference is to the controversial EU hedge fund rules, which in the form approved by the bloc’s finance ministers could block foreign hedge funds from the EU.

Those rules are still being debated by the European Parliament.

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