Financial Regulatory Forum

WRAPUP 1-Obama financial reforms advance in U.S. Congress

October 28, 2009

Onlookers gather outside the historic Federal Hall where U.S. President Barack Obama is speaking in the heart of Wall Street in New York September 14, 2009. Obama, marking a year since Lehman Brothers collapsed, urged financial firms Monday not to fight regulatory reform and urged Congress to pass his proposals by the end of the year. (File Photo)     REUTERS/Larry Downing (UNITED STATES BUSINESS POLITICS)   By Kevin Drawbaugh
WASHINGTON, Oct 27 (Reuters) – The Obama administration made gains on Tuesday in its push for U.S. financial reform, unveiling a landmark bill to tackle systemic risk in the economy and winning congressional committee approval for a measure to expose hedge funds to more government scrutiny.The systemic risk bill would grant vast powers to a new systemic risk regulatory council, the Federal Reserve and the Federal Deposit Insurance Corp to monitor and address risks to economic stability posed by shaky financial holding companies.

US congressional panel backs new rules for hedge funds, short of White House aims

October 28, 2009

By Kevin Drawbaugh and Rachelle Younglai
WASHINGTON, Oct 27 (Reuters) – U.S. regulators would be able to peer into the secretive world of hedge funds and private equity funds under a bill passed by a key congressional committee on Tuesday.

Lender Hypo Real Estate is nationalised in Germany with squeeze out

October 13, 2009

FRANKFURT, Oct 13 (Reuters) – The German government completed the nationalisation of stricken lender Hypo Real Estate on Tuesday, setting the stage for a prolonged legal battle with minority shareholders, including J.C. Flowers.

EU hedge fund law to raise compliance costs-survey

September 21, 2009

open-europe-ogo LONDON, Sept 21 (Reuters) – A controversial EU draft law on hedge funds and private equity could initially cost the two sectors between 1.3 billion euros ($1.9 billion) and 1.9 billion euros, while investor returns could also suffer, a survey says.

U.S. regulators hone tools to fight persistent bank crisis

August 25, 2009

By Karey Wutkowski

WASHINGTON, Aug 25 (Reuters) – U.S. regulators are set to buttress their defenses this week against a slew of sick banks still facing closure and the risks to the dwindling fund that protects depositors.

US agency to vote Aug 26 on private equity rules for failed banks

August 19, 2009

By Karey Wutkowski

WASHINGTON, Aug 19 (Reuters) – The Federal Deposit Insurance Corp will meet next week to vote on its policy for private equity investments in failed banks, according to an agenda posted to its website. The FDIC proposed the private equity guidelines in July. Investors and some regulators criticized them as too harsh.

EXCLUSIVE: China fund plans $2 billion bet on U.S. “toxic” mortgages

August 17, 2009

cic By George Chen, Asia Private Equity Correspondent

HONG KONG, Aug 17 (Reuters) – China’s $200 billion sovereign wealth fund, which lost big on its ill-timed 2007 Morgan Stanley and Blackstone bets, plans to invest up to $2 billion in U.S. mortgages as it eyes a property market rebound, two people with direct knowledge of the matter said Monday. (more…)

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.

US bank regulator seen moving fast on private equity -sources

August 4, 2009

Federal Deposit Insurance Corporation (FDIC) Chairman Sheila Bair (file)By Megan Davies
NEW YORK, Aug 3 (Reuters) – A U.S. bank regulator is expected to move quickly in finalizing guidelines on private equity investments in failed banks, possibly easing one of its most controversial proposals, sources said on Monday. (more…)

Obama picks private-equity figure for key U.S. Treasury post

July 22, 2009

By Patrick Rucker
WASHINGTON, July 22 (Reuters) – Jeffrey Goldstein, an executive at a New York private equity firm, has been tapped as President Barack Obama’s choice for Treasury undersecretary for domestic finance, two officials said on Wednesday. (more…)