{"id":8677,"date":"2008-09-23T00:00:00","date_gmt":"2008-09-23T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-funds-plan-to-sue-fsa-over-short-selling-ban","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/09\/2008\/hedge-funds-plan-to-sue-fsa-over-short-selling-ban.html","title":{"rendered":"Hedge funds plan to sue FSA over short-selling ban"},"content":{"rendered":"<p> Daily Telegraph &#8211; Lawyers are being galvanised on behalf of a raft of hedge funds which claim    the financial watchdog has illegitimately extended its powers and caused    &quot;wide-spread capital destruction.&quot; <\/p>\n<p> One said: &quot;The FSA&#8217;s remit is to maintain orderly markets &#8211; the markets were    working fine, only the banks were going bust. With one swoop, the regulators    have wiped out perfectly legitimate businesses and have cost some funds    millions. They have gone for the big political hit without a thought for the    damage they are wreaking. There may be unintended consequences but it&#8217;s    outrageous and illegal.&quot; <\/p>\n<p> The backlash follows a week in which the multi-billion pound hedge fund    industry has been plunged into crisis. Prime brokers in London estimated    that 35 per cent of European hedge funds were organising emergency measures    to avoid closing funds as a ban on short-selling has hamstrung managers at a    time when they need flexibility to survive. <\/p>\n<p><strong><a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.telegraph.co.uk\/money\/main.jhtml?xml=\/money\/2008\/09\/21\/cnhedgefunds121.xml\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Daily Telegraph &#8211; Lawyers are being galvanised on behalf of a raft of hedge funds which claim the financial watchdog has illegitimately extended its powers and caused &quot;wide-spread capital destruction.&quot; One said: &quot;The FSA&#8217;s remit is to maintain orderly markets [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[1100,747,314,2804,329,1060,44,2803,2495,1827,1256,756],"class_list":["post-8677","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-brooklyn","tag-commodity-markets","tag-finance","tag-financial-markets","tag-financial-regulator","tag-institutional-levels","tag-invoices","tag-jan-28","tag-la-caixa","tag-monetary-affairs","tag-north-america","tag-unprecedented-step"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8677","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=8677"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8677\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=8677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=8677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=8677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}