FSA Chief Rejects Calls For More Hedge Fund Regulation

Oct 24 2008 | 10:03am ET

The head of the British Financial Services Authority had some surprisingly kind words for the hedge fund this week, arguing that there is no need for further regulation of the industry.

Hector Sants told the Hedge 2008 conference in London that hedge funds were holding up better than many other parts of the financial services industry, although he expects more hedge fund failures in the months to come. But despite calls on both sides of the Atlantic for tighter control over the industry, Sants says increased regulation is not needed.”

“There is pressure for more regulation in a rather general way,” he said. “I don’t particularly think more regulation is needed, but I do think more effective regulation is needed.”

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    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…