Knuckling down
In the wake of the collapse of Greenwich-based hedge fund Amaranth Advisors, regulators around the world are looking more closely at hedge funds. The SEC recently published new hedge fund guidelines, and other supervisors are set to follow. By Alexander Campbell, additional reporting by Anna Gordon-Walker
The political climate in the US may have shifted in favour of Christopher Cox, chairman of the Securities and Exchange Commission (SEC) and a leading advocate of closer oversight of the lightly regulated hedge fund industry. In mid-December, the SEC board voted to propose a rule raising the minimum personal wealth for hedge fund investors from $1 million to $2.5 million, reducing the universe of eligible clients for hedge funds.
This comes six months after the District of Columbia appeals court
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