Sunday, 24 May 2015
Last updated 1 day ago
Apr 11 2007 | 8:52am ET
Germany’s crusade to rein in hedge funds continues Friday, when finance ministers and central bank chiefs from the G7 countries are set to meet in advance of the spring meeting of the International Monetary Fund and World Bank.
Joining the regulators will be representatives from about 20 leading hedge funds, the Financial Times reports, as well as the Alternative Investment Management Association and Managed Funds Association. The talks—similar to the regular meetings proposed by German Chancellor Angela Merkel—are set to cover what a future surveillance program might look like, the newspaper reports.
“Because of the nature of international capital markets, we need to get the industry on board,” a German government source told the FT. “If we do not, they will always find a way to circumvent whatever rules and surveillance systems governments agree on. Injunctions and prohibitions are no use in this context.”
On the issue of government agreement—no small or assured thing—Germany will also press forward on Friday. Thomson Financial reports that it will lobby its fellow industrialized nations to adopt a unified stance calling for more transparency and market discipline among hedge funds. German government sources told Thomson that the country’s goal is a voluntary code of conduct, though it does not expect a final agreement this year.
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…