France and UK seek hedge fund deal

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.

Article suggests that UK Prime Minister Gordon Brown and French President Nicolas Sarkozy would try to hammer out a compromise deal on contentious matters when the two leaders met bilaterally on the 12 March 2010.

ESO: Background information: Geithner warns of rift on EU regulation http://www.europeansources.info/record/geithner-warns-of-rift-on-eu-regulation/

BBC News, 12.3.10: Sarkozy and Brown attack US over 'protectionism' http://news.bbc.co.uk/1/hi/uk_politics/8563581.stm

France24, 12.3.10: Sarkozy and Brown slam US ‘protectionism’ http://www.france24.com/en/20100312-sarkozy-brown-rebuke-us-protectionism-eads-northrop-boeing-refueling-contract

BVCA: Press Release, 10.3.10: Lord Myners, Financial Services Secretary speaks at a BVCA Breakfast on the AIFM Directive http://www.bvca.co.uk/home/Home-for-launch/features/LordMynersBreakfastSpeech

BVCA: BVCA campaigns on proposed EU AIFM Directive http://www.bvca.co.uk/In-Europe/features/BVCAcampaignsonproposedEUAIFMDirective

BVCA: EU AIFM - Update No. 10, March 2010 http://www.bvca.co.uk/In-Europe/features/EUAIFMUpdateNo10

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