(Reuters) The European Union faces a regulatory spat with the United States after the bloc’s securities watchdog said it could not give U.S. hedge funds a “passport” to operate across the EU. The European Securities and Markets Authority (ESMA) advised the EU’s executive European Commission that hedge funds from Jersey, Guernsey and Switzerland should be allowed to operate across the 28-country bloc.
U.S. Must Wait For EU Hedge Fund Passports
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