Thursday, 2 October 2014
Last updated 15 hours ago
Oct 5 2009 | 2:16am ET
European lawmakers have struck upon a novel idea in their consideration of strict new rules governing hedge funds and private equity firms: They’d like to know something about what the proposal would do before they choose to enact it.
The European Parliament’s economic and monetary affairs committee said it would conduct an impact assessment of the proposed rules, which include stringent new reporting requirements and potential leverage limits. Sharon Bowles, the chair of the committee, warned that the study would be limited in scope due to a lack of funding, the Financial Times reports.
Still, word of the study will be music to many ears in the alternative investments industry. The European Commission, which drafted the controversial proposal, failed to conduct such a study as it was forced to rush the rules out amidst enormous pressure earlier this year. The British government and many players in the industry have been critical of the EC for not considering the impact of the rules, which concerns both.
It’s not just the European Parliament that seems to be listening to those, and other, complaints. The head of the asset management unit of the EC’s internal markets division acknowledged that major changes would have to be made before the proposal becomes law. In some of the EC’s first comments about the draft since its release, Ugo Bassi said it was not the proposal’s intention to keep foreign hedge funds out of Europe or cover all types of alternative investments with the same rules.
“We believe an all-encompassing response is the right approach,” Bassi said. “But we need to make a special effort at differentiation.”
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...