Less Stringent PE Regs Set to Prevail in EU

"U.S.-based buyout fund managers should be able to market their funds in the European Union after all, as finance ministers for the 27-nation body finally reached an agreement on a spate of regulations that are less restrictive than originally feared by the industry.  

'I think industry is broadly relieved, because a few months ago it looked a hell of a lot worse,' said Lisa Cawley, a London-based attorney at the law firm Kirkland & Ellis LLP who specializes in regulation and has been closely monitoring the legislation's development.

Cawley added that the agreement could change slightly before the final vote."

This article appeared in its entirety in the October 22, 2010 edition of Reuters News.