Hedge funds and other investors stand to make billions of dollars from their holdings in a bankrupt US mall owner, General Growth Properties
Canberra faces legal challenge on compensation for Australian power operators in relation to a proposed carbon emissions trading scheme
Madoff liquidator seeks fees of $22.1m
Private equity chief in rallying call to defend industry against ‘misguided’ EU regulation
It's not just banking regulation that needs tightening
It’s not just banking regulation that needs tightening but private pension schemes are badly in need of better governance and stronger oversight.
The OECD is calling for both in new guidance issued today, rolling out a blueprint with recommendations on governance, funding, investment and the rights of pension plan members.
Vulture funds... face having their wings clipped
Flush with their success in shepherding the global economy in recent years, the planet’s munificent politicians are anxious to spread their wings and treat yet more arenas of human endeavour to their undoubted magnificence.
Hedge funds and private equity are both set to benefit from “improved” regulation, courtesy of the searing insights of our political masters, and now it appears politicians in both the US and UK are anxious to clip the wings of vulture funds.
For the uninitiated, these vehicles specialise in buying up the sovereign debt of impoverished or recalcitrant developing nations that have defaulted, or are perceived to be likely to do so, at a chunky discount to face value.
Brussels has been working overtime on financial matters, coming out with no less than three controversial documents today. Presumably the European Commission is trying to cram in as much as possible before a new Commission is appointed in September. Charlie McCreevy, the EU internal market commissioner, wants to leave his mark.
There has been much tearing of hair and gnashing of teeth by private equity managers and hedge funds over one of these documents, which proposes to introduce a pan-European regulatory framework for alternative investment managers.