This Is Just Good Government. The French Would Never Be Protectionist.

No, they're just being logical:

LONDON, March 26 (Reuters) - Hedge funds and managers based outside the European Union should be banned from soliciting EU investors unless they meet the bloc's strict new supervisory standards, a senior lawmaker said on Friday.
...
Jean-Paul Gauzes, a French centre-right lawmaker responsible for the draft in parliament, wants to ban third country funds and managers whose home rules are deemed by the EU not to be of an equivalent standard to the bloc's new rules.

It's a pure coincidence that their proposed measures would undermine London as an international financial center--and simultaneously take a whack at the US finance industry.

All part of France's high-minded mission to civilize the world.