Risk and regulation in 2006: a long way to go

werner kranenburg

In June 2005, the UK Financial Services Authority (FSA) published "Hedge funds: A discussion of risk and regulatory engagement", which followed its 2002 paper "Hedge Funds and the FSA".

Analysis of the responses to the paper (which were due in October) will be published in a feedback statement, expected in March.

This article anticipates the feedback statement. While in the UK there is no legal or regulatory definition of the term 'hedge fund', or 'hedge fund manager' or 'hedge fund adviser' -