Wednesday, 25 November 2015
Last updated 8 hours ago
Mar 15 2010 | 12:48pm ET
The head of the U.S. Senate’s Banking Committee will unveil a new comprehensive financial regulation reform bill today, one that does not include the controversial Volcker Rule.
Sen. Chris Dodd (D-Conn.) will offer his latest proposal weeks after abandoning efforts to reach an accord on financial reform with Republicans. Despite its exclusion of the Volcker proposals, which would bar banks from owning, investing in or sponsoring hedge funds or private equity funds, as well as from proprietary trading, the bill remains controversial and is likely to face a Republican filibuster.
While the bill does not include the hedge fund limits championed by President Barack Obama and former Federal Reserve Chairman Paul Volcker, it would force large hedge funds to register with federal regulators. It would also empower the Fed to force banks and other institutions to cut risk or bar certain trades and investments, which could eventually lead to restrictions similar to those proposed by Volcker.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…