Word: regionalize
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...enough, there's another stiff challenge facing the world's investment-fund industry. Only this time it's from Brussels. Fresh E.U. proposals would require hedge funds, private equity and a host of other alternative investment funds to meet tougher regulation before they can market to investors in the region. The legislation - tabled for discussion in late April in an effort to shore up investor protection while reducing risk - has attracted growing criticism. London-based AIMA, a global hedge-fund industry group, calls proposed disclosure requirements bureaucratic. Kinetic Partners, a consultancy for the U.K. hedge-fund industry, reckons meeting stricter...
...three years after the rest of the legislation, giving jurisdictions and managers time to adapt - promises the most significant change. The E.U.'s approach is understandable. If you want to protect European investors, it's no good regulating domestic fund managers if those selling to investors from outside the region aren't obliged to respect similar rules. But while U.S. efforts are underway to bolster the policing of hedge funds - and the meaning of equivalent regulation is still to be defined at the E.U. level - as it stands, "regulatory equivalence between the United States and European countries does not exist...
...beginning, everyone thought it was a fine idea. It would bring much needed funds to the region and the Italian government even promised there would be a basketball court where our very own president, Barack H. Obama, could shoot hoops after a long, stressful day of trying to solve the world’s problems. Each country sent a delegation to make sure the accommodations were up to safety standards and L’Aquila passed each and every test...
...they have each July for centuries, the narrow, cobblestone streets of Pamplona, Spain, are thundering with the sound of charging bulls. The weeklong annual celebration originated as a religious festival to honor St. Fermin, the patron saint of this small city in Spain's northern Basque region. Today the festival attracts hundreds of thousands of visitors from around the world, many of whom are drawn to its world-famous encierro, or running of the bulls, which begins July 7 and was made famous outside Spain by Ernest Hemingway's 1926 classic The Sun Also Rises...
...wrought by the city's small Uighur community on July 5. Reporters were given a CD that showed several minutes of footage of the mostly Uighur rioters attacking civilians and destroying property. Unlike the official response to the deadly unrest last year in Lhasa, the Tibetan capital, when the region was closed to outsiders for several months, journalists in Urumqi were given relatively free rein...