Ads
February 26, 2006
FSA to regulate hedge funds in London
The techniques used for hedge funds operating out of London have been worrying the Financial Services Authority.
To check the functioning of the industry, the FSA now intends to start regulating hedge funds and their managers. The details of this have been prepared after a consultation spread over a six-month period and will be revealed soon.
In the meanwhile a special hedge-fund unit has been set up to determine how the industry can be controlled better. This is being led by Andrew Shrimpton.
The hedge fund industry operating out of London has been estimated at £500bn. The Independent reports:
Currently, London hedge fund managers are being forced to register with the US Securities and Exchange Commission after a change to American law. To avoid any confusion, the regulators have indicated that hedge funds will have to comply with the strictest rules set down by either the FSA or SEC.
--
Did you enjoy this post?
Comments
Post a comment
« Europe's hedge funds on a high | Main | No special regulations for hedge funds in Canada »
Syndicate
Comments