Iosco: more diligence for funds of funds

Funds of hedge funds should be compelled to carry out better liquidity risk assessment and due diligence, said the International Organisation of Securities Commissions (Iosco) in a recent report. The report, published on September 14, outlined a list of measures to protect retail investors exposed to hedge funds via funds of hedge funds, particularly in the wake of the Madoff scandal. In July, the London-based Hedge Fund Standards Board proposed that hedge fund managers impose limits on redem