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US hedge funds get EU passport
By EUobserver
The European Securities and Markets Authority (ESMA) in Paris Tuesday said US hedge funds can get a “passport” to operate across the EU because there is no risk of “market disruption”. The ESMA verdict bodes well for the City of London, which is likely to undergo the same vetting process after the UK leaves, Leonard Ng, a partner at law firm Sidley Austin in London, told the Reuters news agency.