Reuters – The battle over whether more oversight is needed for the $1.5 trillion global hedge fund industry heated up this week as more top officials clashed, underscoring a lack of consensus forradical change.<\/p>\n
The European Central Bank waded into the debate again on Thursday evening, calling for more transparency in the sector.<\/p>\n
Juergen Stark, an Executive Board member of the euro zone central bank, said opacity contributed to unease over risk.<\/p>\n
“In this context, initiatives are highly welcome that aim at fostering a dialogue between public and private sectors on the best ways to contain possible risk posed by hedge funds,” Stark told a gathering in Brussels.<\/p>\n
“Particular attention has to be given to counterparty risk management, risk monitoring and enhanced transparency and disclosure,” Stark said.<\/p>\n