Monday, 22 September 2014
Last updated 1 hour ago
Mar 30 2009 | 1:12am ET
The world’s leaders are poised to reach accord on new rules for hedge funds and private equity firms at this week’s Group of 20 summit in London. But the alternative investment industry is already fighting back, hoping to minimize the impact of new oversight and regulatory measures.
While several aspects of a global financial overhaul have proven resistant to agreement, the G-20 is widely expected to adopt a framework for dealing with alternatives, derivatives, executive pay and excessive risk in the financial markets. At the last G-20 meeting in November, former U.S. President George W. Bush resisted efforts towards international cooperation or regulation. But the new administration under President Barack Obama has shown itself much more willing to do so, having issued its own proposals for a U.S. regulatory overhaul, including new rules covering hedge funds and p.e. firms.
For its part, the European Union plans to issue its proposals for new hedge fund regulation next month.
A working paper issued by the Canadian government on behalf of the G-20 on Friday offers some insight as to what the industry may be facing, with its call for an agreement to regulate hedge funds and other financial institutions that may pose a systemic risk to the global economic system.
But the industry is pushing back, lobbying to ensure that the new rules are not too heavy-handed. One top industry executive offered the British government a blunt warning against an oppressive regulatory regime.
“We don’t have to be in London,” Crispin Odey of Odey Asset Management told The Sunday Telegraph.
Odey was joined by other noted hedge fund chieftans, including CQS’s Michael Hintze, Lansdowne Partners’ Stuart Roden and Stanley Fink, the former Man Group CEO who now heads hedge fund International Standard Asset Management.
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…
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