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
UBS suffers VAR exception on huge P&L swings following scheme’s launch
Dealers tout hybrid credit and equity-linked notes with Eurostoxx 50 exposure
Risk comparisons must be made easier under Priips KID, says AMF
JAC calls on regulators to co-ordinate cost disclosure rules in KID with Mifid II
Sign up for Risk.net email alerts
Sponsored video: MarketAxess
Sponsored video: Tradeweb
Multifonds talks to Custody Risk on being nominated for the Post-Trade Technology Vendor of the Year at the Custody Risk Awards 2014
Sponsored webinar: IBM Risk Analytics
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.