Geithner calls for better regulation

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Speaking in Hong Kong, New York Federal Reserve president Timothy Geithner has called for better regulation of hedge funds and the derivatives market. He also called on dealers to strengthen best practices in risk management in terms of stress testing, margining practices and operational infrastructure.

His latest remarks, at a lecture organised by the Hong Kong Monetary Authority and the Hong Kong Association of Banks, echo similar comments he made in recent months in the US.

"The fundamental

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