(Reuters) Hedge funds from the United States, Singapore and Hong Kong should be allowed to market themselves in the European Union, the bloc’s financial watchdog said on Tuesday. The long-delayed recommendation from the European Securities and Markets Authority (ESMA) to the EU’s executive European Commission for endorsement is a taste of what Britain’s financial services sector might face after it leaves the bloc.
A new EU law requires ESMA to say for the first time if rules for hedge funds and other alternative investments such as private equity in non-EU countries are as strict as those in the 28-country bloc.
