Geithner warns of rift on EU regulation

Tim Geithner, US Treasury secretary, has delivered a blunt warning to the European Commission, March 2010, that its plans to regulate the hedge fund and private equity industries could cause a transatlantic rift by discriminating against US groups.

The letter from Mr Geithner comes as the Council of the European Union and the European Parliament continue their separate negotiations to reach a decisions on the AIFM proposals.

In reply the FT reported that top European Union officials said that the bloc's decision to act on hedge funds is in line with a G20 decision to reinforce transparency.

ESO: Background information: Big investors tell Europe that new private equity rules risk isolation http://www.europeansources.info/record/big-investors-tell-europe-that-new-private-equity-rules-risk-isolation/

ESO: Background information: Brussels optimistic over hedge fund regulation http://www.europeansources.info/record/brussels-optimistic-over-hedge-fund-regulation/

ESO: Background information: EU plans for hedge fund rules under fire / EU rules on hedge funds unlikely to end debate http://www.europeansources.info/record/eu-plans-for-hedge-fund-rules-under-fire-eu-rules-on-hedge-funds-unlikely-to-end-debate/

European Commission: DG Internal Market and Services: Investment funds: Alternative investments http://ec.europa.eu/internal_market/investment/alternative_investments_en.htm

European Parliament: Legislative Observatory: Alternative Investment Fund Managers http://www.europarl.europa.eu/oeil/popups/ficheprocedure.do?id=577403

EurActiv, 11.3.10: UK, US lash out at France, Germany over hedge fund regulation http://www.euractiv.com/en/euro/uk-us-lash-france-germany-over-hedge-fund-regulation-news-329168

EurActiv, 17.3.10: US warns EU of financial reform clash http://www.euractiv.com/euro-finance/us-warns-eu-financial-reform-cla-news-348532

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