FSA and SEC discuss fresh approaches to hedge fund regulation

FSA chief executive Hector Sants
Hector Sants, UK Financial Services Authority

US and UK regulators are looking to develop new approaches to regulate hedge funds, the UK Financial Services Authority (FSA) said in a statement on Wednesday.

Following a meeting between Hector Sants, FSA chief, and Mary Schapiro, chairman of the US Securities and Exchange Commission (SEC), the regulators agreed to identify a common, coherent set of data to collect from hedge fund advisers and managers to make it easier to identify risks.

The meeting was part of the SEC-FSA strategic dialogue s