Friday, February 27, 2009

European policy makers debate new hedge fund rules

Momentum for Europe-wide regulation of hedge funds continues to build.

Reuters.com

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Volcker calls for strong restrictions on hedge funds

Former Federal Reserve Chairman Paul Volcker, who heads President Barack Obama's Economic Recovery Advisory Board, urges "strong restrictions on risk-prone capital market activities -- hedge funds, equity funds, proprietary trading and the like."

Bloomberg.com

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AIMA Proposes Transparency and Cooperation Initiatives

The Alternative Investment Management Association ("AIMA"), a London-based association of hedge fund managers, has announced a new transparency initiative in favor of regular reporting to national regulators of large holdings and risk exposures. Other aspects of AIMA's new policy platform include support for:

  • disclosure to national regulators of aggregated short positions;
  • new policies to reduce settlement failure, including in the area of naked short selling;
  • creation of a global regulatory body to authorize and supervise fund managers;
  • creation of unified global industry standards

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