In the context of Alternative Investments (e-book) (used book) | bookbook.eu

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Inhaltsangabe:Introduction: In light of the financial crisis, international interest in the supervision and regulation of the financial industry has increased rapidly. On 2 April 2009 the Group of Twenty (G20) leaders met in London and agreed to extend regulation and oversight to all systemically important financial institutions, instruments and markets, and included, for the first time, systemically important hedge funds. The International Organization of Securities Commissions (IOSCO), respectively the Commission of the European Communities (CEC) already launched a wide ranging public consultation on hedge funds during the period 18 December 2008 to 31 January 2009. The consultation resulted in a final report, Hedge Funds Oversight on 22 June 2009. The final report recommend high level principles on the regulation of hedge funds, taking into account the outcome of the public consultation and the hearings hold in Madrid on 20 April 2009. Inhaltsverzeichnis:ABBREVIATIONS2 SUMMARY3 PREFACE5 1.Introduction6 1.1Purpose and objective6 1.2Method and materials used7 1.3Limitations7 2.Characteristics of hedge fund schemes9 2.1Origin and history9 2.2Definitions10 2.3Legal landscape12 2.4Market participants13 3.Existing EU and German law on hedge funds16 3.1German legislation16 3.1.1Hedge fund structures and rules17 3.1.2Authorized institutions19 3.1.3Contractual and prospectus terms22 3.2EU regulations or directives apply24 3.3Financial supervisory frameworks in Germany and the EU27 3.4Hedge funds associations28 4.Expected EU and German law on hedge funds31 4.1The proposed AIFM Directive31 4.2Scope and exclusions31 4.3Authorization32 4.4Conditions for the operation of hedge funds33 4.4.1Conduct of business33 4.4.2Capital requirements35 4.4.3Organizational duties35 4.4.4Delegation of functions37 4.4.5Transparency obligations37 4.5Obligations to specific hedge fund types39 4.6Provision of services in the EU40 4.7Specific rules for non-EU hedge fund participants41 4.8Competent authorities42 5.Personal statement and final summary comparison44 Textprobe:Text Sample: Chapter 3.1, German legislation: The InvG which reformed the investment fund industry in Germany has now been in place for more than 5 years, having been enacted on 1 January 2004. The principal objectives of the InvG were to implement amendment Directives 2001/107/EC and 2001/108/EC of the European Parliament and of the Council of 21 January 2002 amending [...]