Wednesday, 1 October 2014
Last updated 10 hours ago
Mar 4 2010 | 6:43am ET
European Union internal markets commissioner Michel Barnier went to London this week to reassure the continent’s most important financial center. But the U.K.’s alternative investments industry left the meetings anything but reassured.
Barnier showed an unwillingness to compromise on the EU’s proposed hedge fund and private equity regulations, which would impose strict new reporting and custody requirements on alternative investment firms.
Barnier—a close ally of French President Nicolas Sarkozy, a major hedge fund critic—was also inflexible on the most contentious issue in the hedge fund rules, The Independent reports. The commissioner reaffirmed his support of measures that could keep foreign hedge funds from selling their wares in Europe.
“Requiring high standards of supervision and transparency from the European industry but not from third-country funds and managers active in Europe would be short-sighted,” Barnier said. “It would impede effective monitoring of risk in Europe and create an unlevel playing field and opportunities for regulatory arbitrage.”
British critics have called such an attitude “protectionist.”
The EU rules are currently being debated by the European Parliament. While that body has expressed confidence that a compromise can be reached, there remain serious disagreements among EU governments, which must also approve the rules before they come into effect.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...