March 26, 2006

Irish Financial Regulator and FSA Take Steps to Regulate Hedge Funds

The hedge fund market is usually considered to be highly unregulated. But then, there are times when a sudden interest can truly chop off heads. In a recent case, the Irish Financial Regulator made a move to shut down three hedge funds. These funds are operated by Broadstone Fund Management, a Dublin-based investment management firm.

Also, a study by the Financial Services Authority (FSA), carried out recently expressed concern over potential conflicts of interest among fund managers and unfair treatment of investors. It also highlighted the fact that some hedge fund managers were using unfair practices. The Post.IE reports:

The regulator has declined to say why it issued the order but stressed that investor funds were not under threat. It is understood, however, that issues relating to the firm’s filing requirements were among the regulator’s concerns.

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March 26, 2006 in Regulation | Permalink




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