Soros Stop Foreign Investors Funds managing

Brokers world-famous, George Soros, said the management company of global investors quit his handling of foreign investment funds. With this, he will return all investor funds that amounted to U.S. $ 1 billion.

In a letter of notice to clients around the world, Soros said the company will only manage a family-owned investment funds in the country. In the letter also said to cause the cessation of business Soros is due to new regulations set by the government of the United States.

"Since the unfortunate consequences of the new rules is what makes us stop managing the assets of anyone except the family's investment," said a letter written by two sons Soros. Jonathan and Robert, taken from the pages of The Guardian, Tuesday, July 26, 2011.

Soros caused the cessation of the investment management of the new regulations called Dodd-Frank legislation. With this rule, the U.S. Securities and Exchange Commission has the authority to force the managers of foreign investment which has assets of more than U.S. $ 150 million to provide data about their company.

According to Forbes, the data includes the number and ownership of funds, types of clients, employees, and consultation activities conflict of interest that may arise. The new regulation is intended to give more information to investors about the company perngelolaan that they will use.

Soros did not approve of this new regulation. He stated his company refused to provide data to other parties. For this reason, he will return the investment funds totaling more than U.S. $ 1 billion or about to investors. Starting today, the company will only manage family investments, which are not included in the scope of the new regulations.