Monday, 25 May 2015
Last updated 2 days ago
Jul 1 2010 | 2:03pm ET
Hedge fund managers may have dodged the European Union’s controversial proposed alternative investment rules for the time being, but they won’t dodge the tough bonus restrictions included in that directive.
EU fund managers will be subject to new compensation and bonus rules expected to be approved by the European Parliament next week, as most firms—those owned by insurance companies are notably excepted—will be considered credit institutions under the bank pay rules.
Under the proposal, no more than half a hedge fund manager’s total compensation can be paid out as a bonus. What’s more, only 30% of bonuses can come in the form of cash, and at least 40% must be deferred for a period of years.
How, exactly, hedge funds are to meet the second requirement is unclear. Banks will be forced to pay out the bulk of their bonuses in stock, but most hedge fund managers are not publicly-listed.
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…