Sunday, 29 March 2015
Last updated 1 day ago
May 19 2014 | 4:15pm ET
Hedge fund may avoid the dreaded designation "systemically important," after all.
A U.S. Treasury official said today that there has been "a bit of an overreaction" on the part of the asset management industry to the prospect of such a designation, which would place a firm under Federal Reserve oversight. Mary Miller told Bloomberg Television that it is "certainly an option" that no asset management firm will be found systemically important.
"We have to determine are there risks, and if there is a determination that there are risks, then you have to think about what are the remedies," she said. "Is it presented by an individual firm, by the industry as a whole, or perhaps by certain activities that asset managers engage in."
Power to designate firms lies with the Financial Stability Oversight Council, which held a public conference today featuring Citadel Investment Group's Kenneth Griffin. Miller said she hopes that the confab will "clear up a little bit of that misunderstanding."
Despite industry fears, "there is no pre-determined outcome," Miller insisted. "No judgments have been made."
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…