ECMI CONFERENCE: Looking into 'Chinese Boxes': Hedge Funds and the EU's Draft Directive
The near meltdown of financial systems across the world has shed new light on the hedge fund industry. The G-20 and the broader international debate on regulation and supervision for hedge funds has brought the future of the industry into question. The European Commission has recently revealed its draft Directive, which tackles macro and micro risk areas related to hedge funds. The roundtable will deal with the main aspects of this new piece of legislation, its impact on the industry and the safety of the financial system (illiquid assets, enforcement, and use of leverage).
Speakers include:
Emil Paulis, Director, Financial Services Policy and Financial Markets, DG Internal Market, European Commission
Poul Rasmussen, MEP, President, PES Group
Ravi Bulchandani, Managing Director and Head of Alternative Investments, Barclays Wealth
Thomas Deinet, Executive Director, Hedge Fund Standards Board
Moderator: Karel Lannoo, Secretary General, ECMI
This event will be held on Monday, 29 June 2009 from 12:45 - 15:45 at CEPS, 1 Place de Congrès - 1000 Brussels.
For more information and speakers' presentations, please click here.
Bringing hedge funds into the regulatory mainstream
The global financial crisis has put an end to the cosy environment in which the financial industry had operated up to now. In keeping with their G-20 commitment, the European Commission has published draft rules for hedge funds, which bring all non-harmonised funds under the EU’s regulatory umbrella, largely reproducing the rules of existing directives, and adding some new elements in response to the crisis.
Integrating Europe’s Back Office: 10 years of turning in circles
The financial crisis has sharpened the debate on Europe's back office architecture. This paper reviews the ECB's decision to proceed with its Target 2 Securities (T2S) project, which aims to establish a common IT platform for securities settlement, reducing differences between current infrastructures and creating a borderless pool of pan- European securities. The apparently solid configuration of the project shakes, however, when we closely examine the impact of this common infrastructure on the competitive landscape.
