The text was adopted by a wide majority of 513 for, with 92 against and three abstentions.
The vote was a formality after the measures were approved by the European Commission, which oversees the European Union, and the 27 European Union nations.
The new legislation notably provides for the creation of Europe-wide "passports" allowing funds to market their wares across the bloc.
But different phases will see the rules change over time depending on funds' origins.
Between 2013 and 2015, a London-based fund would be able to sell across Europe, although "third-country" funds -- such as American or Cayman Islands-based products -- would not. From 2015 the market will to funds outside Europe.
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