Swiss central bank chair rejects regulation of hedge funds
Jean-Pierre Roth, chairman of the Swiss National Bank, has said hedge funds do not threaten financial stability and that direct regulation would be difficult to justify.
“I do not see Highly Leveraged Institutions (HLI) as a direct threat to financial stability,” said Roth in a lecture on Highly Leveraged Institutions and Financial Stability: A Case for Regulation? at the University of St. Gallen in Switzerland on Friday. “The Achilles heel of the system is the link between HLIs and banks of systemic importance. Thus, the systemic risks originating from HLIs are
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