Lunchtime Links: Now the EU wants to regulate hedge fund pay too

Bankers in the EU have had months to get used to the concept of bonus deferrals, clawbacks, and restrictions on guarantees. Hedge fund managers haven't. That's unfortunate.

The Swedish finance minister, Mats Odell, says there's been a troubling addition to the already unpopular Alternative Investment Fund Managers (AIFM) directive: pay regulation.

When the directive emerges into the light, Odell says it will include pay restrictions similar to those under discussion for banks. If so, Bloomberg says

hedge fund managers could find themselves forced to defer at least 40% of bonuses for a minimum of three years and to pay a "substantial amount" of their bonuses in shares. The latter could prove challenging given many hedge funds are private partnerships.

The Swiss bonus limits aren't really very harsh. (NY Times)

"Everybody wants to be a flow monster now." (Financial Times)

Jefferies has hired some more people for equities. (IDD Magazine)

RWC Partners hires Morgan Stanley's head of convertibles. (Citywire)

Calyon is expanding its commodities team. (Bloomberg)

Brit Insurance moves its headquarters to the Netherlands. (Insurance Times)

RBS has applied for a licence to hold karaoke events on all 7 floors of its head office. (Telegraph)

Goldman's not very charitable foundation. (Felix Salmon)