Like their peers in the U.S. and Europe, Australian hedge funds are going to have to open up to regulators under new disclosure rules set to be introduced next year.
The Australian Securities and Investments Commission will impose strict new reporting requirements, the Australian Financial Review reports. Hedge funds will have to provide information about offshore holdings and other investments in jurisdictions less highly-regulated than Australia.
The regulator will promulgate the next disclosure rules next year. ASIC is also planning a guide for investors considering hedge funds.