Wednesday, 22 October 2014
Last updated 15 hours ago
Sep 29 2010 | 10:12am ET
French President Nicolas Sarkozy appears poised to demolish the growing consensus around proposed European Union hedge fund regulations in a bid to put an end to the so-called “passport.”
EU governments and the European Parliament has been negotiating for months a compromise alternative investments directive that would impose strict new rules on hedge funds and private equity funds while opening all EU markets to those firms—including foreign hedge funds—that meet the stringent new requirements. The French oppose such a passport, insisting that access be left to individual governments.
Now, the French have reportedly prepared their own, stricter version of the hedge fund directive to present what Syed Kamall, a British member of the European Parliament, told The Telegraph would be a “fait accompli.” The French have refused to share the text of their version with the British, but have reportedly won enough support to block the compromise version.
It is unclear, however,t hat France would be able to garner enough support to actually pass its version of the rules, which would leave the controversial proposed regulations in limbo.
“This would be a profoundly protectionist move,” Alternative Investment Management Association CEO Andrew Baker told the Telegraph of dropping the passport. “The French proposal could be calamitous for European investors, who could be prevented from investing in funds or managers outside the EU and non-EU hedge fund managers who would find it very difficult to access the European market.”
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 ...