Saturday, June 6, 2009

ΚΑΙ ΜΕΣΑ ΣΤΗΝ ΑΝΑΜΠΟΥΜΠΟΥΛΑ ΟΙ ΒΡΥΚΟΛΑΚΕΣ...

..Ξυπνούν.
Ετοιμάζονται να την κοπανήσουνε... τα χρυσά μου.Τα βρετανικά Hedge funds προειδοποιούν την κυβέρνησή τους ότι θα εγκαταλείψουν τη χώρα αν υιοθετηθεί η προτεινόμενη ευρωπαϊκή νομοθεσία ενισχυμένης εποπτείας του ευρωπαϊκού χρηματωπιστωτικού συστήματος. Πρόκειται, λένε, για μία Γαλλική συνομωσία εναντίον του Λονδίνου. Σκέπτονται να πάνε στην Ελβετία ή πιθανόν και στις Ηνωμένες Πολιτείες.
Γ.Γλυνός
''Hedge funds may quit UK over draft EU laws
By James Mackintosh and George Parker in London and Nikki Tait in Brussels
Published: June 3 2009 23:34 Last updated: June 4 2009 10:38

Some of Britain’s biggest hedge funds have warned the UK Treasury they will be forced to leave the country unless a draft European directive is radically changed.
Some have already begun back-up preparations to move to Switzerland in case the rules – described by one manager as a “French plot against London” – are not rewritten. New York is also a possible destination, according to another.
The warnings come as hedge funds step up their campaign against the draft directive on alternative investment fund managers, which was modified at the last minute to require the European Commission to set a limit on borrowing. Private equity firms are also fighting the rules.
Ian Wace, co-founder of hedge fund manager Marshall Wace, told the Treasury this week it should modify tax rules to allow the thousands of Cayman Islands-based funds to move to be fully regulated in London, rather than have much of the industry abandon Europe.
“If this directive goes through as drafted, large chunks of the industry will be leaving Europe, whereas we have the opportunity today to have large chunks of this industry coming to Europe,” he said.
At a meeting organised by Dan Waters and Henry Knapman of the Financial Services Authority and Tom Springbett, a Treasury representative, officials reassured almost a dozen of London’s top managers they would fight for changes.
Managers present included Mr Wace, Jon Aisbitt, chairman of Man Group, Hugh Sloane, co-founder of Sloane Robinson, David Stewart, chief executive of Odey Asset Management, and executives from the London arms of America’s Tudor Investment Corp, Citadel and Och-Ziff.
People present said the FSA officials accepted that the “killer” rules limiting borrowing – and defined to include the implicit borrowing built in to derivatives – would make popular strategies such as global macro, made famous by George Soros, impossible. But the FSA and Treasury argued the definition of borrowing was so “obviously ridiculous” it was bound to be rewritten, one official said.
Lord Myners, City minister, accused the European Commission of producing “naive” proposals.
Speaking to MPs, he said the draft directive “did not conform with the best practice of consultation” and he was confident it could be improved.''
Financial Times

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