No need for more hedge fund regulation, US group says

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.”

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• Topics
• PwC
• Foreign exchange
• Structured products