Despite its growth over the last seven years, there is no need to improve regulation of the private investment industry, a US government working group reported yesterday.The President's Working Group on Financial Markets (PWG) said: "The current regulatory structure... is working well." The group comprises the heads of the Securities and Exchange Commission, the US Treasury, the Commodity Futures Trading Commission and the Federal Reserve.
In its statement of principles, the group emphasised it was up to investors to exercise due diligence. It highlighted conflicts of interest, risk management, personnel and valuation as areas where investors should pay attention.
The Managed Funds Association (MFA), an alternative investment industry body, welcomed the statement. MFA president John Gaine said: “We enthusiastically endorse the agreement announced today, and look forward to continuing our work with the PWG and the agencies to ensure viable markets, investor protection and the prevention of systemic risk.”
Topics: PricewaterhouseCoopers (PwC)
More on Structured Products
$12.5 million fine for cross border activities with US clients
ESAs propose visual representations of risk in key information document
Regulatory panel suggests backtesting internally is best practice
Growing appetite for ETFs buoys market confidence
Sign up for Risk.net email alerts
Sponsored webinar: IBM Risk Analytics
Nominated for two technology awards
Nominated for post trade technology award
Sponsored webinar: Collateral and counterparty tracking
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.