Monday, 6 July 2015
Last updated 7 hours ago
Apr 12 2007 | 10:27am ET
The flurry of news in advance of this weekend’s International Monetary Fund-World Bank pow-wow—featuring a meeting of G7 finance ministers and central bank chiefs with representatives of the hedge fund industry—has been something of a mixed bag for supporters of stricter regulation. The latest tidbit, however, is likely to sour their mood.
Acording to the Financial Times, a report commissioned by the G7 on hedge funds will not call for any concrete steps to be taken. A draft report circulating among finance ministries from the Financial Stability Forum acknowledges the risks associated with the development of the hedge fund industry, but it reportedly declines to endorse any of the substantive measures pushed by the German government, including a global database of hedge fund investments, a voluntary code of conduct for hedge fund managers and an increased role for rating agencies.
The report, due to be presented next month, is unlikely to derail Berlin’s bid for greater transparency and scrutiny of hedge funds. The country is reportedly confident it can push the code of conduct through the G8, though it has not put a timetable on its adoption.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…