Gwyn Roberts

19/10/2011 Author: Gwyn Roberts

Editor's view: 19 October 2011

In New York last week for HFM's Performance Awards, we were all aware of the febrile atmosphere created by the on-going Occupy Wall Street movement.

The exact terms of this protest are confusing, arguably based on a series of misunderstandings and in a rational world would be ultimately futile. However, we live in overwrought times, where inchoate anger can be latched onto by all parties and quickly wrought into policy.

This has been seen with the current tilt for a financial transactions tax (see news analysis, p14) and will, sadly, be seen again. It’s hard to believe that more could be thrown our way, but, in the same way that the Tea Party very quickly tacked its agenda onto a tired Republican party, some Democrats are – mistakenly we believe – seeing the events in Zuccotti Park as a way to pick up votes.

In fact, in coping with the currently bleared horizon managers could learn a valuable lesson from the mistakes of Zuccotti. Here the protesters are incoherent, but the best managers – as seen at our awards (see feature, p16) – are acting with clarity by readying for an uncertain future.

This means contingency planning for Fatca and AIFMD, and working out just what should be in a Form PF. Others are ramping up compliance teams, or making the decision to outsource this function.  

The regulatory atmosphere will continue to be febrile, but at least we can be prepared.

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