Saturday, 25 April 2015
Last updated 1 day ago
May 6 2010 | 10:29am ET
Even if the U.S. passes stricter new hedge fund regulations—as seems inevitable, with President Barack Obama’s financial overhaul making its way through the U.S. Senate—America will retain its edge in alternative investments, according to one hedge fund manager.
Frank Brosens, co-founder of Taconic Capital Advisors, said the U.S. proposals for hedge fund and private equity regulation were “not a bad direction,” and certainly not as bad as things are likely to be in Europe, which also appears to be nearing an accord on hedge fund regulation.
“We like New York,” Brosens told the Bloomberg Markets Hedge Fund Summit. “The regulatory framework is just better.”
Brosens did acknowledge the Europe’s tougher new standards, which may include strict reporting and custody requirements as well as leverage limits, could still be felt on this side of the Atlantic. The EU proposal would allow foreign hedge funds access to European investors and markets, but only if they agree to play by the EU’s rules.
“It’s going to make it quite complicated,” Brosens said.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…