Monday, 22 September 2014
Last updated 2 days ago
Sep 14 2010 | 11:32am ET
The European Parliament and European Union countries are nearing a compromise on controversial bloc-wide hedge fund regulations favorable to the hedge fund industry, according to a report.
Under pressure from the European funds industry, European pension funds and his own center-right party, Jean-Paul Gauzes, the French member of the Parliament guiding the legislation through that body, is reportedly pushing for a compromise that would allow individual countries to hold on to their own private placement rules—in effect allowing foreign hedge funds access to their markets, Financial News reports. A vote on the directive was delayed last week after the French again changed their position, demanding that the so-called “passport” be eliminated and that the private placement rules by preserved.
Under the passport provisions, funds that meet the more stringent EU guidelines—which include stricter reporting and custody requirements—would have access to all EU markets. The British and Germans are thought to support that provision, as well as one preserving the private placement rules.
A pair of potential compromises have been suggested, both of which would keep the individual private placement rules in effect for the time being. The first would phase them out over five years, the second would review the situation in five years before deciding what to do with them.
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.