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Economy
In reply to the discussion: Weekend Economists Sit on a Wall August 23-25, 2013 [View all]Demeter
(85,373 posts)35. Hedge funds copy Soros’s regulatory sidestep
http://www.ft.com/intl/cms/s/0/3106417e-fb60-11e2-8650-00144feabdc0.html?siteedition=intl#axzz2axB0jaCp
New York and London-based hedge fund managers are returning external money to investors and restructuring as family offices in a bid to avoid regulatory scrutiny. Single family offices are exempt from Dodd-Frank regulation in the US and the Alternative Investment Fund Managers Directive in Europe, which aim to improve investor protection...
...These developments come after George Soros, the billionaire hedge fund manager, returned money to investors in his Quantum hedge fund and converted the business to a family office in 2011.
The move was in response to US rules requiring hedge funds to register with the Securities and Exchange Commission, the US regulator. Mr Soros avoided this by running his $24bn fund as a family office....
MUCH SQUABBLING ENSUES
New York and London-based hedge fund managers are returning external money to investors and restructuring as family offices in a bid to avoid regulatory scrutiny. Single family offices are exempt from Dodd-Frank regulation in the US and the Alternative Investment Fund Managers Directive in Europe, which aim to improve investor protection...
...These developments come after George Soros, the billionaire hedge fund manager, returned money to investors in his Quantum hedge fund and converted the business to a family office in 2011.
The move was in response to US rules requiring hedge funds to register with the Securities and Exchange Commission, the US regulator. Mr Soros avoided this by running his $24bn fund as a family office....
MUCH SQUABBLING ENSUES
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