Rebel MEPs try to beef up hedgie laws

first_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap whatsapp KCS-content whatsapp Show Comments ▼ Rebel MEPs try to beef up hedgie laws center_img Tuesday 28 September 2010 11:25 pm NEW EUROPEAN rules on hedge funds and private equity groups were in disarray yesterday after French MEPs claimed they could scupper the regime’s passage into law. Talks on the Alternative Investment Fund Management Directive (AIFMD) came close to agreeing a final draft in Brussels on Monday, but yesterday dissenting politicians scrambled to arrange covert one-to-one meetings with other MEPs to talk them into toughening up the rules. The French have not revealed the full text of their proposal. However, several sources said the rebels aim to abolish a planned “passport” for hedge funds, which would require some non-EU funds to meet transparency standards to trade here, and replace it with a stricter, universal benchmark. “It felt a bit like when a phone company calls you up with a great new deal, but then they won’t tell you any of the details,” said Conservative MEP Syed Kamall, who has been involved in months of negotiations over the directive. Kamall told City A.M. yesterday the breakaway group might have enough support to stop further progress. “The French are trying to undermine the Belgian presidency and form a blocking minority, and they claimed tonight to have done so.”The acting EU finance minister, Belgium’s Didier Reynders, said yesterday he realised the crackdown did not command the support of every member state, but said he will not force through the current proposals.The UK, which is home to 80 per cent of Europe’s hedge funds, has backed the introduction of a passport system. Andrew Baker, chief executive of the Alternative Investment Management Association, said yesterday: “The French proposal could be calamitous for European investors who could be prevented from investing in funds or managers outside the EU, and non-EU hedge fund managers who would find it very difficult to access the European market. This would be a profoundly protectionist move.” by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Share Tags: NULLlast_img read more

Svenska Spel suspend betting on Swedish football competition

first_img Topics: Sports betting The governing body took this step after integrity monitoring partners revealed that as many as 13 matches in the division were suspected to have been rigged during the spring season. It has asked the country’s gambling regulator Spelinpsektionen to implement a blanket ban on offering odds on the league for all licensees in the market.“The situation that has arisen is so serious that we are unfortunately forced to take action to supend the betting markets to safeguard the integrity of the league and prevent manipulation for the the rest of the season,” SvFF secretary general Håkan Sjöstrand said.While Spelinspektionen is yet to make a decision on whether to implement the blanket ban requested by the SvFF, Svenska Spel has moved to suspend betting on the league.“We work daily to ensure that the gaming products we offer our customers are free from manipulation,” the operator’s head of sports betting and gaming security Dan Korhonen said. “In discussions with the Football Association, we have expressed our concerns about Division 2 Södra Svealand, as the number of matches under suspicion is so high that the integrity of the whole league can be questioned.“We see no other solution than stopping all betting [on the league].”The measure is the latest taken by Svenska Spel as a result of social responsibility concerns, following the operator’s decision to cease advertising its online casino offering as a result of concerns about excessive advertising in the newly regulated Swedish igaming market. Sports betting regulations have also come under scrutiny in recent weeks, with uncertainty over the regulator’s stance on offering odds on markets involving professional sportspeople under the age of 18. This saw eight licensees handed official warnings and penalty fees of as high as SEK10m (£848,313/€949,151/$1.07m) for offering odds on sporting events featuring a majority of participants under the age of 18.Gaming Innovation Group suspended its sportsbook operations in Sweden earlier this month (9 July), arguing that a lack of clarity on regulations put the business in “an impossible position”.Operator body Branschföreningen för Onlinespel (BOS), meanwhile, has demanded an urgent meeting with Spelinspektionen as it looks to address operators’ concerns about unintentionally falling afoul of regulations due to this lack of clarity. Svenska Spel’s Sport & Casino igaming subsidiary has taken the decision to cease offering odds on the Division 2 Södra Svealand football league until further notice.The decision has been taken as a result of suspicious betting activity around a number of matches in the division, leading to a request from the Swedish Football Association (SvFF) to suspend betting on the league. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: Europe Nordics Sweden Subscribe to the iGaming newsletter 25th July 2019 | By Daniel O’Boyle Sports betting Email Address Svenska Spel suspend betting on Swedish football competition Svenska Spel’s Sport & Casino igaming subsidiary has taken the decision to cease offering odds on the Division 2 Södra Svealand football league until further notice.last_img read more