Posts Tagged ‘Legislation
Teamwork! Rep. Helps Dems Get Derivatives Regulation Package Out of Committee
In a kind of shocking move, a Republican actually did the Democrats a solid by voting “yea” on its Derivatives Regulation Package to move it out of the Senate Agriculture Committee (apparently the derivatives that aggravated the financial crisis were tied to certain farm commodities, which is why the proposal ended up in the Agricultural [...]
Loopholes in Dodd’s Legislation
Lobbyists on K Street have been going through Senate Banking Committee Chairman Chris Dodd’s nearly 1,400 page Wall Street reform bill with a fine tooth comb looking for loopholes. Not exactly light reading, but a necessary task for people whose very livelihoods (well, extra zeros on their pay checks) depend upon finding ways around the [...]
Thoughts on the Goldman Fraud Charges
In addition to the charges from the SEC, Goldman is now facing charges in Britain and additional scrutiny in Germany. With all of this going down while we await the passing of new hedge fund legislation in both the E.U. and the U.S., we have to ask ourselves, if the AIFM directive passes and if [...]
Soros on Volcker Rule: “I Back It”
Billionaire investor George Soros says maybe there might be something to the notion that the banking “oligopoly” formed by the four largest banks in the U.S. needs to be broken up. The so-called Volcker rule, named after Obama adviser and former Chairman of the Federal Reserve Paul Volcker, proposes, among other things, to limit the [...]
Oh, Canada… AIMA Finally Decides to Oppose E.U. AIFM Directive
So it appears that Canada finally woke up and realized that the AIFM drama that’s been dominating the European stage for the past little while just might have an impact on its own burgeoning hedge fund industry which manages about US$25 billion according to FINalternatives. A little late to the party, but better late than [...]
Bipartisan Bill Proposes Tax Breaks for Ponzi Victims
A bipartisan bill introduced in the U.S. Senate by Senators Charles E. Schumer, Democrat of New York, and Jon Kyl, Republican of Arizona on March 22 proposes to extend tax breaks to the tens of thousands of Ponzi scheme victims. In contrast to previous proposed legislation which focused exclusively on those who made direct investments [...]
Obama Calls G20 to Act on Financial Reform
In a Monday letter to the G20 which can be read on the Huffington Post, President Obama laid out several key components of his push for international financial reform and called for the the group of nations to “lead by example.” The G20 are set to convene in Toronto in June where, after a long [...]
Lawmakers Say UK Won’t Delay AIFM Rules Long
According to a Bloomberg report, the temporary reprieve granted to the UK by European Union finance ministers decision last week to postpone talk of the final wording of the Alternative Investment Fund Managers Directive, which would force funds based outside the E.U. to comply with restrictions on bonuses and leverage if they want to market [...]
Dodd Vs. Hedge Funds et al.
On Monday, Sen. Chris Dodd proudly announced his new financial regulatory reform legislation, among other things, didn’t exempt auto dealers from new regulations like the House version did, according to the Huffington Post. In the summary of the bill, Dodd suggests that one of the primary benefits of his proposed legislation is that it Closes [...]
Volcker Rule May Help Out Hedge Funds
Thanks to regulatory pressure resulting from a new proposal known as the Volcker rule many hedge funds may be recruiting traders away from big U.S. banks. The legislation, proposed by President Obama and named after former Federal Reserve Chairman/present Obama adviser Paul Volcker, would require financial institutions engaged in proprietary trading to disclose more information [...]
Loading ...