Tuesday, 21 October 2014
Last updated 9 hours ago
Apr 1 2010 | 8:37am ET
Despite a report rejecting direct taxes for the Cayman Islands, the British government still wants the hedge fund haven to impose them.
Britain’s Foreign and Commonwealth Office, which last year approved the country’s request to exceed its debt limits, wrote to Prime Minister McKeeva Bush urging him to consider some direct taxation, regardless of what the report said. The report was the work of the Miller Commission, helmed by former U.S. Federal Trade Commission Chairman James Miller and established at the behest of the U.K. in exchange for increasing the debt limit.
But Bush, who exulted in the results of the report, is unlikely to be swayed.
“Our position is, and will continue to be, that we do not believe that direct taxes are good for this country,” the prime minister said after the Miller report was released.
The Miller Commission concluded that the imposition of direct taxes could imperil the Caymans’ all-important financial services committee. The islands are the domicile of some 80% of the world’s hedge funds.
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…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...