Komfie Manalo, Opalesque Asia:
Global regulations of the financial markets, including alternative investments and
hedge funds cause "train wreck in slow motion," said Phoebus Theologites, CIO at SteppenWolf Capital, which provides cross-market and cross-asset
investment management to institutional and professional investors worldwide, at the
latest Opalesque Roundtable Zurich 2014.
Theologites said, "[Swiss regulator] FINMA never made a secret of the future changes
in Swiss investment law. On the contrary, they have been very open about it, and
there have been numerous seminars, organized by banks and service providers,
informing and warning managers about the changes – yet few managers have started
preparing their FINMA regulatory applications so far."
Ian Hamilton, Chairman of fund administrator IDS Group, added that Switzerland would
be sitting in the middle of Fortress Europe, and "with all the regulations coming
out of the E.U., AIFMD, etc.", the country would be sitting in a "squeeze". He added
that "the Swiss authorities have hired additional 15 lawyers who are sitting and
doing nothing, because nobody is putting in their applications. So I have seen this
all before in other jurisdictions where fund managers actually bury their heads in
the sand and hope that it is not going to happen or th......................
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