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May 17, 2006
U.S. regulators to go easy on hedge funds
If this comforts you...yes...the global hedge fund market is worth over $1trillion and this booming industry has a strong presence in the U.S. market. And the U.S. authorities are only too aware of the fact that too strict regulations in the hedge fund industry could prove to be counterproductive.
But then you cannot leave them without any scrutiny. In fact, since February, the Securities and Exchange Commission has made it nearly mandatory for hedge funds to register themselves as investment advisors.
The U.S. Central Bank is a bit more cautious in its approach. Fed Chairman Ben Bernanke is against stiffer regulations as it might reduce existing market discipline.
According to Gerald Corrigan, a managing director of Goldman Sachs,"We must avoid the ever present danger that the mathematics and the models become the master and we become the servant."
Read more here
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