Reuters – France is ready to drop objections to a key part of a law to tighten rules on hedge funds in exchange for concessions from London, a senior diplomat said, moving to end a row that threatened to harm relations with Washington.
As talks entered their final round, France demanded Britain surrender more policing power to a European watchdog allowing it monitor foreign funds. Paris, in return, would agree to let such funds qualify for a licence to work across the bloc’s 27 countries.
