Switzerland is about to boot hedge funds out of the country by turning a lightly regulated sector into one more highly regulated than anywhere else in the world. Recent arrivals quit London when the burden of taxation became too great. Where will they go next?
The Dubai International Financial Centre is a possible option. It has regulation to international standards modelled on London’s FSA and the cost of accommodation is way below that of Geneva. Indeed, Geneva house prices rose on the arrival of the London hedgies and will doubtless plummet on their departure.
No comments:
Post a Comment