Sunday, 28 December 2014
Last updated 4 hours 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.