Fri, Jul 29, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

French banks fear that parliament may decide to forbid them to work with hedge funds – Le Figaro

Monday, January 21, 2013

amb
Karine Berger
Benedicte Gravrand, Opalesque Geneva: - Paris’ financial district is very concerned, French daily newspaper Le Figaro reported yesterday. The French finance minister Pierre Moscovici proposed rules last month that speculative activity be segregated away from banking activity. However, large French banks such as BNP Paribas, Société Générale and Crédit Agricole fear that the French parliament, under the counsel of Member of Parliament and economist Karine Berger, who is looking into the proposals, might toughen the rules.

Several sources told Le Figaro that Ms. Berger is looking into two different aspects of the proposal at the moment. The first one would consist in monitoring the relationship between banks and hedge funds ("fonds alternatifs"). There is a rumour that says the economist would like to forbid banks to work with hedge funds via a parent company, and restrain such operations to a separate (specially created under the new law) subsidiary. The second one would further restrain high frequency trading (HFT).

According to the paper, financiers are happy to discuss HFT, but are unhappy about any restraint in their business dealings with hedge funds, which many banks deem as essential. Bankers do not see hedge funds as hazards, but as investors who are useful to the economy, who often take long-term risks on non-plain vanilla assets. One banker told Le Figaro that when French companies recently issued convertible bonds, half of those were bought by h......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: California-based manager launches long/short equity hedge fund with unique algorithm[more]

    Benedicte Gravrand, Opalesque London for New Managers: SJL Capital LLC, an investment advisory firm based in California, has launched its maiden fund, the SJL MarketDNA Hedge Fund LP. The fund, which began trading

  2. Manny Roman to move from Man to Pimco[more]

    Benedicte Gravrand, Opalesque London: Emmanuel (Manny) Roman, an investment world veteran, has been hired by PIMCO, the large US bond fund house, as chief executive officer. PIMCO's current CEO Douglas Hodge will assume a new role as managing director and senior advisor when Roman joins P

  3. Opalesque Exclusive: ArbitrOption outperforms benchmarks, up 7.18% in H1[more]

    Komfie Manalo, Opalesque Asia: Independent registered advisor ArbitrOption breezed through the tumultuous Brexit referendum and outperformed its benchmarks. ArbitrOption was up 7.18% in the first half of 2016 compared to the S&P 500 which gain

  4. Europe - European hedge funds shrink and shutter as turmoil hurts returns, Investors go bargain-hunting for U.K. property after Brexit vote, Brexit: Guidance for fund directors - what to know and what to ask[more]

    European hedge funds shrink and shutter as turmoil hurts returns From Bloomberg.com: Europe’s hedge-fund industry contracted for a sixth straight quarter as the U.K.’s decision to leave the European Union and concerns that China’s growth is slowing caused losses and forced some money man

  5. Platinum Partners starts liquidation of hedge funds following municipal union kickback scandal[more]

    Komfie Manalo, Opalesque Asia: Platinum Partners, the hedge fund in the middle of a New York City municipal union kickback investigation, is reported to be liquidating two of its funds, the New