Knowing They Were Selling “Crap,” UBS under Siege in CDO Case
Despite internally acknowledging that some of their CDOs were “crap” and “vomit,” UBS still sold such instruments to unwitting investors—and now are being sued for doing so.
Regulation
To Entice Foreign Capital, China Relaxes Regulations
Although still miniscule in nature, the Chinese Qualified Foreign Investor (QFII) program will—if proposed regulation passes—raise limits, lower minimums, and reduce lockups for foreign institutions, a sign of encouragement for foreigners wishing to pour money into the country.
Offered More Votes, Institutions Reject UK Shareholder Proposals
Institutions, despite being offered greater voting power in recent London proposals, are balking at a two-tiered shareholder system.
In the United Kingdom, Pensions Join Alternatives Battle
With European regulators looking to tighten the alternative investment collar, UK pension funds – who now, more than ever, need the excess returns that alternatives are purported to provide – have stepped into the battle.