Money managers under the microscope
As you’ve probably noticed, there’s no shortage of regulation in the wake of the biggest financial crisis in 80 years.
IOSCO has been fleshing out pledges made by G20 leaders while the European Commission has put forward its highly-controversial draft law on hedge funds and private equity. Meanwhile the EU is formally reviewing MiFID next year.
Some critics already say there has been little consultation with the industries affected and insufficient co-ordination between the different regulatory bodies.
According to Louise Forrester, consultant at law firm Gide Loyrette Nouel, this result is, rather unfortunately, likely to be one big regulatory mess that wily firms will be able to take advantage of.