German Leader Calls For More Hedge Fund Regulation

Aug 26 2013 | 10:25am ET

There’s a German election in less than a month, which means it"s time for the country’s politicians to take aim at one of their favourite targets: hedge funds.

Chancellor Angela Merkel, campaigning for re-election on Sept. 22, said she would seek tougher international hedge fund regulations at next week’s Group of 20 summit in Russia. “It’s not enough to regulate just banks but not hedge funds and shadow banks, and I’ll fight for that,” she told a rally in Bonn. Merkel added that she hoped European members of the G-20 would “speak with one voice” on the issue.

Merkel’s ruling coalition currently has a wide lead in the polls over the opposition Social Democratic Party.

The chancellor’s statement comes after KPMG released a survey showing that just 22% of European hedge fund managers are in compliance with the European Union’s Alternative Investment Fund Managers Directive. Most of those who remain noncompliant are awaiting local guidance, no surprise given that more than half of the bloc’s 28 members failed to implement the new rules by a July 22 deadline.

Among those who failed to do so are G-20 members France, one of Germany’s staunchest allies in the push for tougher hedge fund rules, and Italy.


In Depth

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

 

From the current issue of

With NFL season on the horizon, it’s time to take a look at our Fantasy Football value picks. Last year, we nailed it on Drew Brees, Jordan Howard, Frank Gore and Dwayne Allen. We missed pretty badly on Duke Johnson, Demaryius Thomas, Mohammed Sanu and Eli Manning.