In an interview with Bloomberg News, Michel Barnier, the 27-nation bloc’s Financial Services Commissioner, said that EU member states and the European Parliament are “in the final stretch” before voting to approve the new rules in September.

Thus, despite dire warnings last month about the fate of the European Union’s proposed hedge fund and private equity regulations, the EU appears to be (for the time being at least) much more confident that the controversial rules will be approved in September.

Barnier also pledged to toughen regulation on financial derivatives, including credit default swaps and naked short-selling.  When asked whether naked short selling would be banned outright, Barnier told Bloomberg:

“I never mentioned a ban, even though it’s an option on which we are working on.  We will consult, especially on naked short-selling. It’s an option that we are studying with seriousness.  I want transparency, control and standardization.”