Saturday, 20 September 2014
Last updated 1 day ago
May 19 2010 | 11:46am ET
The premier of the Cayman Islands has assured his islands’ stable of hedge funds that they have nothing to fear from impending European Union regulation.
The EU’s finance ministers yesterday approved new rules that would impose strict reporting and custody requirements, as well as possible leverage and borrowing limits, on the 27-nation bloc’s hedge funds and private equity funds. The rules, which also cleared a key committee of the European Parliament this week, would also bar non-EU funds that fail to meet certain criteria from the EU.
“We believe that Cayman, on an objective assessment, meets these criteria,” Premier McKeeva Bush said. “However, we are still seeking clarification on the specifics of the process that theyw ill put in place to assess whether the criteria are met.”
Bush said representatives of the Caymans government and the Cayman Islands Monetary Authority will meet with EU officials next month.
The Caymans are the domicile of the majority of the world’s hedge funds, with British hedge funds especially prevalent.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.