private funds into the regulatory perspective.

the political game more than a year, the U.S. Senate on the 15th financial regulatory reform bill passed the final version, completed this financial reform legislation. The new bill is considered \

new bill stressed the importance of all financial institutions with systems into under the framework of macro-prudential supervision. Systemic risk on financial institutions, the Bill proposed a higher capital adequacy, leverage limit and risk concentration requirements.

new bill on the bank proprietary trading and high-risk derivatives trading to a more stringent constraints, lack of supervision of the OTC derivatives market before, hedge funds, private funds into the regulatory perspective.

Wall Street analysts expect the new law relating to restrictions on bank proprietary trading, derivatives trading stripped part of the terms of a large securities company profits will drop 10%. But the new rules on financial supervision in terms of Wall Street giant,met in Beijing, does not mean end of the world.

In fact, the final bill baked with the government than Obama's original concept of severity has been significantly weakened. For example, the final version of the bill, the Bank shall agricultural swaps, energy swaps, swaps and other risk most metals largest derivatives trading business split into subsidiaries, but may retain its interest rate swaps, currency swaps, and gold and silver swaps and other services.

and interest rate contracts held by commercial banks and foreign exchange contracts account for about all kinds of derivatives of the total Jiucheng more, stripping bill is only a small part of banks derivatives business, not significantly affected.

bank proprietary trading in restricted areas, the end result is a compromise that allowed banks to invest in hedge funds and private equity funds, but the scale of funds shall not exceed 3% of its level of capital. For a capital of billions of dollars every turn Wall Street giant, the 3% limit means that the bank can still come up with billions of dollars in proprietary trading.