Financial Regulatory Forum

U.S. senator asks SEC to review market structure, flash trading

August 24, 2009

U.S. Securities and Exchange Commission Chairman Mary Schapiro testifies before the Senate Banking Committee on Capitol Hill in Washington, June 22, 2009.    REUTERS/Jim Young      By Jonathan Spicer
NEW YORK, Aug 24 (Reuters) – Senator Ted Kaufman on Monday asked U.S. regulators to undertake a comprehensive review of several “questionable” developments in the structure of capital markets, the latest lawmaker to weigh in on so-called dark pools, flashes, and high-frequency trading.

UK’s FSA steps into EU hedge fund spat with study

August 21, 2009

UK’s FSA steps into EU hedge fund spat with study
LONDON, Aug 21 (Reuters) – Britain’s Financial Services Authority has commissioned a cost study of a draft European Union law on the regulation of alternative investment managers, a step hedge funds hope will provide more ammunition to dilute the measure. (more…)

from Funds Hub:

Pensioners totter to the rescue

August 4, 2009

It may look like an unlikely scenario on paper, but Europe's elderly masses could be about to provide the killer blow to draft EU rules to regulate the alternative investment industry.

Pension funds join battle over EU hedge fund rules

August 4, 2009

By Joel Dimmock
LONDON, Aug 4 (Reuters) – British pension funds have begun exerting pressure to change proposed European Union rules that would impose new regulations on the hedge fund and alternative investment sector.

U.S. SEC ban on “flash trading” called imminent

August 4, 2009

U.S. Senator Charles Schumer (file photo)WASHINGTON/NEW YORK, Aug 4 (Reuters) – A U.S. Securities and Exchange Commission ban on so-called flash orders is “imminent,” a senior lawmaker said on Tuesday — just before the agency itself said it was drawing up plans to ban the controversial services offered by some stock exchanges.  Democratic U.S. Senator Charles Schumer said SEC Chairman Mary Schapiro had personally assured him that the agency planned to ban the practice of “flash trading,” which gives advance knowledge of stock orders to certain traders. (more…)

Obama bill seeks to shine spotlight on hedge funds

July 16, 2009

   By David Lawder
   WASHINGTON, July 15 (Reuters) – The Obama administration on Wednesday sent Congress legislation that would pry open hedge funds to wider scrutiny, requiring those with more than $30 million under management to register with the government and greatly boost disclosure.

UK sees progress in battle over EU hedge fund law

July 14, 2009

By Huw Jones
LONDON, July 14 (Reuters) – Britain was “gaining traction” in persuading its EU partners to rein in a draft law regulating hedge funds but the industry should also get its customers out on the campaign trail, a government minister said on Tuesday. (more…)

Fink: EU funds rules may spark regulatory war-FT

July 7, 2009

    LONDON, July 6 (Reuters) – The adoption of tough European Union restrictions on hedge funds could provoke a transatlantic regulatory war, one of the sector’s leading figures told the Financial Times newspaper in an interview.

France pushing tougher financial regulation

July 2, 2009

   By Anna Willard
   PARIS, July 2 (Reuters) – France said on Thursday it will not allow draft EU rules to regulate hedge funds to pass unless they are toughened, putting it at odds with Britain which has been trying to dilute them. (more…)

Sweden – don’t demonize hedge funds

July 1, 2009

    STOCKHOLM (Reuters) – A minister for Sweden, which took over the EU presidency on Wednesday, said hedge funds and private equity firms needed regulation but should not be viewed as a primary cause of the global financial crisis.
   Speaking after a visit by the European Commission to Stockholm to mark the Nordic country’s start in the six-month presidency, Financial Markets Minister Mats Odell cautioned against “overzealous” regulation. (more…)