Another Protectionist Clash: US Versus EU PE Regulation

Amongst the many problems with globalisation which the crisis has exposed, the lack of global regulatory institutions is one of the most salient. As governments now look to create new regulations to avoid another crisis, they are coming to loggerheads on many fronts, not least the regulation of hedge funds and private equity (PE), with obvious tensions between US and European plans. While emerging US regulation does not treat foreign hedge funds and PE funds any differently than US ones, the embryonic EU regulation is no less than protectionist, as it discriminates against foreign firms accessing the EU market. The

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