Friday, 27 March 2015
Last updated 2 hours ago
Sep 22 2008 | 9:54am ET
The worldwide market turmoil has one world leader saying, “I told you so.”
German Chancellor Angela Merkel blasted the American and British governments for blocking her efforts to increase controls on worldwide financial markets, especially hedge funds.
“It was said for a long time, ‘Let the markets take care of themselves,’ and that there is ‘no need for more transparency,’” Merkel said at an election rally in Linz, Austria, for that country’s main conservative party. “Today we are a step further because even America and Britain are saying, ‘Yes, we need more transparency, we need better standards for the ratings agencies.’”
The U.S. and Britain stymied Merkel’s efforts to impose worldwide regulation or monitoring of hedge funds during Germany’s presidency of the G8 last year.
Meanwhile, another group of European politicians are working to make Merkel’s dream a reality.
The European Parliament is set to approve legislation that would increase transparency at hedge funds and private equity firms today. In addition to new transparency rules, the proposals would cover manager qualifications, conflicts of interest, hedge fund registration and disclosure of ownership structures.
The legislation has long been championed by Europe’s socialist parties, including the British Labour Party, and has recently won increasing support from the continent’s more free-market-friendly Christian Democrats and liberal parties.
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…