AP – Britain is set to lose a clash with France on new European Union hedge fund rules that EU finance ministers will haggle over on Tuesday.
Paris leads most EU governments in favoring tougher restrictions for funds based outside the 27-nation bloc.
The new law, when completed, could block foreign funds from Europe if they don’t face tight oversight at home. This is aimed at funds based in tax havens like the Cayman Islands where supervisors might not be checking on risks they are taking on.
