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Page last updated at 09:46 GMT, Tuesday, 18 May 2010 10:46 UK

EU ministers to vote on hedge fund regulation

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EU finance ministers are meeting in Brussels later to discuss hedge fund regulation.

The meeting comes hours after a key committee of Euro MPs backed a directive that may lead to greater supervision of the hedge fund industry.

Tuesday's meeting will be an important test for the new UK Chancellor, George Osborne, with 80% of European hedge funds based in London.

Imtiaz Tyab reports.

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