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Darling wants to trim hedges

Chancellor Alistair Darling has called for regulation of hedge funds and other “important institutions” in his Budget speech.

Darling said a Treasury paper will be published shortly, outlining the reforms to financial regulation including action to reform corporate governance and remuneration at banks to avoid undue risk taking.

He will also recommend improved regulation of capital and liquidity so that banks do not “over-extend” themselves. Darling said he wants to increase transparency and achieve a single set of accounting rules so that the risks the banks take are clear.

He said: “It will also propose action to reduce the impact of the failure of financial firms, protect and support consumers, improve efficiency and competition in financial markets, as well as strengthening regulators’ powers.”

KPMG global head of retail banking David Sayer says the paper will consider solutions for the UK to the questions raised in the Turner review.

He says: “There is likely to be considerable agreement on the need for change, but there is unlikely to be a consensus on the precise solutions.”

CMS Cameron McKenna partner Simon Morris says Darl- ing’s comments confirm that the “Government will be pursuing a domestic solution to regulatory issues, pre-empting demands from Europe for fund- amental reform in the structure of regulation”.


Macro website launched

Several of the world’s leading multilateral organisations have joined together to launch a website with data on the 20 largest economies.The website presents G20 data available at participating agencies covering the financial, governmental, external and real sectors. It also provides links to data in websites of international and national agencies.The International Monetary Fund (IMF), which […]

The fear market

Last week, I started my look at some important current realities underpinning investment attitudes and action. These were founded on research carried out with US investors and advisers but I believe that there are some useful insights that we can draw on when considering the UK.

When will US rates rise?

By Felix Wintle, Investment Director & Head of US Equities The most recent communication from Federal Reserve chair Janet Yellen has put the market’s sights on September as the most likely month for the first rate rise. This is due to the stronger than expected economic data of late, particularly in employment and housing, which […]


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