WEST PALM BEACH, FL (www.hedgeco.net) – U.S. Securities and Exchange Commissioner Roel Campos said Tuesday that his office will be taking a light approach to regulating overseas hedge funds. The U.S.Securities and Exchange Commission under William Donaldson introduced and passed a measure to regulate the U.S. based hedge fund managers. According to Campos, the SEC has no plans to delay theregistration process of overseas hedge funds. Campos said, �Hedge fund regulation burden would not be as burdensome as critics believe.�
Campos made his remarks at the Managed Funds Association symposium taking place in London England. He said, “I don’t see a huge, in-your-face kind of regime, many, if not most, offshore hedge funds will qualify for regulation lite.” He also said, �The United States regulators would use a risk-based approach for overseeing hedge funds, in an effort to use the agency�s limited resources on areas of most concern and need.�
Campos is one of the two democrats on the SEC Commission. He also noted that scrutiny of the U. S. Hedge fund industry had increased lately, partly due to the implication of some hedge funds in the illegal trading scandals which rocked the U.S. Mutual Fund establishment last year.
He also explained, �That U.S. exams for European hedge fund managers would imply significant interaction and collaboration� with regulators in Europe.� He added that, �Few exams will be done on anyone in Europe� only in situations where there is evidence of substantial fraud.�
Campos is implying that the strength of the home country�s ability to oversee its hedge fund sector would be a factor in such considerations. He however noted that the hedge fund industry is vital to the world economies.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net
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