Saturday, 25 April 2015
Last updated 18 hours ago
Nov 13 2008 | 12:24pm ET
Hedge fund managers are bracing for increase regulation, and their associated costs, under the incoming administration of President-elect Barack Obama.
A new report by Rothstein Kass says that while managers agree that associated compliance costs will make hedge funds more costly to operate, they also say it will not lead to more fund closures or fewer start-ups.
“Though hedge fund managers readily acknowledge that a more restrictive regulatory environment looms, the industry seems well-positioned to meet the demands of increased compliance,” said Howard Altman, co-managing principal of Rothstein Kass. “Despite the fact that nearly 84% of participants believe that compliance costs will make funds more costly to operate, fewer than seven percent expect that this will lead to increased costs to investors.”
“Moreover, based on the research, it does not appear that the impact of increased regulation will impede fund launches or accelerate closures,” Altman added. “Fewer than 6% of participants agreed that compliance costs will lead to more closures, with a similar percentage reporting that there will be fewer start-ups due to increased regulation.”
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…