FRANKFURT, Oct 5 (Reuters) – Global financial market watchdog group, the International Organization of Securities Commissions (IOSCO), said on Wednesday it was drawing up rules to regulate the increasingly powerful hedge fund industry.
Technical advisers to IOSCO meeting in Frankfurt did not set a date for when the rules would be ready, but said the hedge fund industry, now comprising about 8,000 funds managing $1 trillion in investments, would be consulted from the start.
Some securities supervisors are concerned about the growing power of hedge funds, which sometimes take risky leveraged positions in markets to turn a quick profit.
