HedgeCo.Net (New York) – The Canadian Securities Administrators is working to improve its regulatory framework for hedge funds.
According to a staff notice summary (81-316 Hedge Funds), the CSA conducted a review in response to increased retail interest in hedge funds. The review was done through a combination of compliancereviews of fund managers and advisers, disclosure reviews and industry consultations.
Based on the review, the CSA determined that while an appropriate securities regulatory framework exists for hedge funds in Canada, certain areas can be improved. “Regulators in Canada recognize theincreased popularity of hedge funds among retail investors,” said Jean St-Gelais, Chair of the CSA and President & Chief Executive Officer of the Autorité des marchés financiers (Québec). “Whilewe feel the necessary regulatory framework is in place, it is important to continually examine the framework against new products in our evolving markets.”
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
Alex Akesson
Contributing Writer
HedgeCo.Net
Email: Editor@hedgeco.net
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