Monday, May 18, 2009

Carlyle Group's FRSGlobal to Help Hedge Funds Comply with Coming Regulations

Not only will the Carlyle Group, a huge "politically connected" private equity underwriter (PEU) avoid regulation, an affiliate stands to sell regulatory compliance software to the only shadow bankers likely to land under the Obama regulatory umbrella.

FRSGlobal plans to offer compliance solutions to hedge funds. Their press release stated:

"While the exact form of regulatory reporting is still to be finalized, it is clear from our discussions with market participants and U.S. governing bodies that there is going to be an overwhelming need for the kind of flexible risk and regulatory reporting tools developed by FRSGlobal that have helped hundreds of banks worldwide meet the their regulatory needs over the past twenty years. This experience and expertise is now going to be available to the hedge fund industry."

PEU's and sovereign wealth funds (SWF's) stand to get a free pass from Obama's regulators. Funny, Chief regulator Larry Summers spoke of the risk of SWF's when Larry was in the private sector.