WEST PALM BEACH, FL (www.hedgeco.net) – The Financial Services Authority (FSA) said it is not freeing up direct UK mass-market sales of hedge funds. Some recent media reports stated that the UKregulatory agency is poised to open up hedge funds to the mass markets. Senior FSA officials could not confirm such reports but the FSA will be publishing its discussion papers in the coming weeksabout hedge funds according to Dan Waters, sector leader for asset management at the FSA.

Waters said the agency is not about to change the U.K laws governing hedge funds sales to the public. He said, “The first thing to do is correct the impression that the FSA has decided to open the door to retail investment in hedge funds.� Currently British hedge fund laws prevent the direct marketing of hedge fund products to non-qualified investors. Only qualified and wealthy investors with about 1 million pounds may invest in hedge funds.

The regulator is also surveying prime brokerage firms to gauge their financial exposure to hedge funds. Hedge funds have lately come to the spotlight for their activities. In Germany hedge fund investors helped to remove the chairman of the German Stock Market Exchange. Hedge funds have grown exponentially as assets surpassed 1 trillion mark.

Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net

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