Tuesday, 23 September 2014
Last updated 3 hours ago
May 31 2013 | 11:33am ET
The U.S. Commodity Futures Trading Commission has failed to reach an agreement with the European Securities and Markets Authority over the European Union's new hedge fund regulations, potentially imperiling U.S. commodity trading advisers' ability to market their wares on the continent.
ESMA yesterday announced that it had signed memoranda of understanding with 34 global financial regulators, including the U.S. Federal Reserve and Securities and Exchange Commission. But the CFTC was not on the list.
ESMA must certify that a hedge or private-equity firm's home country regulator is in line with Europe's tough new alternative investments regulations, set to come into force in July, for such firms to market their offerings in the EU.
"The agreements set high standards for co-operation on the supervision of cross-border alternative funds, thereby strengthening investor protection and the global consistency of supervision," Steven Maijoor, ESMA's chairman, said.
One insider told City A.M. that the CFTC's absence from the first list "appears more significant than it really is."
"Another set of MoUs are likely to be signed in the next few weeks.
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 McKitich, CIO of Petty 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…
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.