WEST PALM BEACH, FL (www.hedgeco.net) – Alan Greenspan, the Federal Reserve Chairman said in a recent conference that the hedge fund industry should not be overregulated. Greenspan explained the needfor hedge fund managers to provide complete transparency to its investors. The Fed Chairman however said, “You have to be very careful to make sure that … the hedge funds are completely transparentto their investors and that the investors are acutely aware of the nature of the risks, and the level of the risks, that they are taking.\u00c3\u00af\u00c2\u00bf\u00c2\u00bd Greenspan made his remarks in a conference on derivatives,sponsored by the Federal Reserve Bank of Chicago.<\/p>\n
The U.S. hedge fund industry has gradually been implementing the new hedge fund regulatory requirements passed into law by the Securities and Exchange Commission. The full implementation of the new law begins in February 2006.<\/p>\n
Greenspan added, “But you also have to be careful about imposing regulation on these funds to the extent that you inhibit their actions. Remember that collecting data on hedge funds may appear to give you a degree of transparency, but most of the data that you will get will tell you about their strategy of last night. This morning, they have a new one,” he explained.<\/p>\n
While there is a pending law suit challenging the imposition of such law by the Securities and Exchange Commission, many in the industry believe that the new hedge fund laws may not be overturned by the courts. Such possibility however, could not be totally ruled out.<\/p>\n
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net<\/p>\n
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