When wielding a large regulatory hammer, sometimes everything looks like a nail.
In the quest to identify and regulate ‘systemic risk’ and increase the tax base, our politicians have decided they don’t want to be in the business of defining ‘what is a hedge fund, what is a private equity fund, what is a vc fund’, etc.So they are seeking to apply a broad prophylactic that will only further damage a fragile dynamo of economic activity. Continue reading
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