Tuesday, 2 September 2014
Last updated 8 min ago
Feb 10 2010 | 12:00pm ET
The U.K.’s House of Lords is urging the British government to veto proposed strict new alternative investment regulations currently being debated by the European Parliament.
The House of Lords European Union Committee said the U.K. “should not agree” to the Alternative Investment Fund Managers directive unless it is substantially altered. The proposed rules would impose strict new reporting and custody requirements on hedge funds and private equity funds, as well as possible leverage limits.
But, as written by the European Commission, the rules would sap European competitiveness, the Lords complain. The U.K. should not accede to the proposal unless it is made “compatible with equivalent legislation with regulatory regimes in third countries and in particular in the United States.”
“The U.K. government should do everything it can to ensure that the final proposals that emerge in the AIFM Directive do not damage the EU and U.K. economies to which the City of London makes an important contribution,” Kenneth Woolmer, a member of the Lords committee, told Bloomberg News.
The Lords report is the latest salvo attacking the proposal from across the Channel. Earlier this week, both the Bank of England and Financial Services Authority warned that the rules could have disastrous unintended consequences for European economy.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...