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Books > Law > Laws of other jurisdictions & general law > Financial, taxation, commercial, industrial law > Company law
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Hedge Funds - Risks and Regulation (Hardcover, Reprint 2014)
Loot Price: R4,347
Discovery Miles 43 470
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Hedge Funds - Risks and Regulation (Hardcover, Reprint 2014)
Series: Institute for Law and Finance Series
Expected to ship within 12 - 17 working days
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The number of hedge funds and the assets they have under management
has increased in recent years. This increase became significantly
more pronounced after the market downturn in 2001. Hedge funds can
help investors to benefit from volatile and even sinking stock
markets. However, despite the prominent use of the word "hedge" in
their name, such funds rarely offer a safe hedge against risk,
given that they depend heavily on skill-based investment techniques
and often invest in highly speculative financial instruments.
Nevertheless, such funds received no specific treatment in the
legislation of such major markets as Germany and the United States
for years. Against the backdrop of international regulatory concern
for hedge funds, the Institute for Law and Finance (ILF), in
cooperation with Deutsches Aktieninstitut e.V. (DAI), brought
together leading scholars, lawyers and bankers, to assess the
risks, opportunities and regulatory challenges that hedge funds
present. At the time of the conference, German lawmakers were still
discussing the need and possible content of a new law. The fruit of
their discussions was the German Investment-Modernization Act
(Investmentmodernisierungsgesetz), which entered into force on
January 1, 2004, and increased the attractiveness of offering hedge
fund products in the German market. This inaugural volume of the
Institute for Law and Finance Series contains the proceedings of
the ILF/DAI May 2003 conference entitled "Hedge Funds: Risks and
Regulation," and presents papers discussing the economic
characteristics of and regulatory strategies for addressing hedge
funds. The first two papers examine hedge funds from an economic
perspective. Alexander M. Ineichen, Managing Director and Global
Head of AIS Research at UBS, reveals the economic reality of hedge
funds from the myths that has surrounded them. Then Franklin R.
Edwards, Professor and Director of the Center for the Study of
Futures Markets of the Columbia Business School in New York
explains how the regulation of hedge funds should be tailored to
their core economic reality and the goals of financial stability
and investor protection. Next, Marcia L. MacHarg, a partner of
Debevoise & Plimpton LLP, Ashley Kovas, a Manager in the
Business Standards Department of the Financial Services Authority,
London, and Edgar Wallach, a partner of Hengeler Mueller, present
the state of the relevant regulatory structures in the United
States, the United Kingdom, and Germany, respectively. The book
then closes with an analysis of corporate structures used for
German hedge funds, offered by Kai-Uwe Steck, a member of the
German Asset Management practice group of Shearman & Sterling
LLP.
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