Monday, 27 April 2015
Last updated 2 days ago
Jul 13 2012 | 12:50pm ET
Hedge funds aren't the only asset management shops worried about the European Union's tough new alternative investment regulations.
Twenty traditional asset managers and investors are warning that the planned rules will have unintended consequences for their own businesses. The firms, which include Allianz, BlackRock, Fidelity Investments and Schroders, argue that one of the new regulations, which seeks to prevent hedge funds from registering at a "letter box" in one jurisdiction while operating from another, is too broad.
The asset managers told Michel Barnier, the European Commission's internal markets chief, that the rule could hurt their own ability to have risk and portfolio management decision-makers based in the market in which they are investing.
"We are extremely concerned that the forthcoming 'Level 2' implementing measures for the Alternative Investment Fund Managers Directive will undermine the single market," even disrupting UCITS fund management, the firms wrote.
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…