Under scrutiny
Hedge fund regulation
South Africa's hedge funds have recently had a different kind of exposure thrust upon them. Over the past year, the country's Financial Services Board (FSB) has been engaged in officially licensing local hedge fund managers - a process that involved managers submitting lengthy applications and acquiescing to day-long on-site visits from the regulator. The initiative represents the FSB's first attempt to get to grips with the sector, which had formerly been regarded as self-regulating (Risk March
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