Monday, 20 October 2014
Last updated 3 days ago
Jul 2 2010 | 10:50am ET
The Channel Islands, which house two major hedge fund centers off the French coast in the English Channel, aren’t going to take it anymore.
Jersey and Guernsey, worried about the impact of proposed European Union alternative investments and banking regulations, and worried also about the British government’s ability to protect the islands from them, have decided to do so themselves, establishing a joint diplomatic mission to the EU in Brussels. The islands—which are not part of the United Kingdom and therefore not part of the EU—will do their own lobbying on matters affecting them. And, if successful, they could expand their diplomatic endeavor to Washington, D.C., and elsewhere, Jersey Chief Minister Terry Le Sueur told Reuters.
“Clearly what is uppermost in our minds is maybe background in [the U.K.’s] minds and they’ve got a thousand and one other things to worry about,” Le Sueur explained. “If..the U.K. government is generally cutting back on expenditure wherever it can, I think we’ve got to accept the fact that they will have less resource to direct—be it manpower or time—towards looking after the interests of a whole variety of dependent territories.”
The Channel Islands are the last British-controlled remnants of the Duchy of Normandy, the rest of which was conquered by the French in 1204. Technically, they are crown dependencies, like the Isle of Man, not represented in the British Parliament but relying on the U.K. for diplomatic and defense purposes.
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 ...