Tuesday, 21 October 2014
Last updated 1 hour ago
Jul 6 2010 | 1:01pm ET
Despite dire warnings last month about the fate of the European Union’s proposed hedge fund and private equity regulations, the controversial rules will be approved in September, a top EU official vowed.
Michel Barnier, the 27-nation bloc’s Financial Services Commissioner, told Bloomberg News that EU member states and the European Parliament are “in the final stretch” before voting to approve the new rules in September.
Barnier said the two sides “are close to an agreement” about alternative investment firms based outside of the EU. The Parliament, which last month was reported to be in no mood to compromise, wants to issue so-called “passports” to foreign firm that meet certain standards. Those passports would give hedge funds and private equity funds access to all EU markets.
But the EU finance ministers, who also must approve the regulations, did not include a passport provision, which would give each country in the bloc the right to approve or reject foreign funds. The British—who are most opposed to the EU rules altogether—threw a further monkey-wrench in by demanding that funds that fail to meet the passport requirements be allowed to apply for admission to individual EU markets.
Barnier also said that the EU plans to impose new rules covering derivatives and naked short sales. The latter could be banned outright, he said.
“It’s an option that we are studying with seriousness,” Barnier said.
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 ...