President's Working Group Hints At Risk Oversight For MAPs
WASHINGTON, DC --The President's Working Group on Financial Markets appears to have laid the groundwork for regulatory agencies to expand their oversight powers to requiring broker-dealers and futures commission merchants (FCMs) to supply detailed information about the risk management policies and models used by their unregulated Material Associated Persons (MAPs). In its report--"Hedge Funds, Leverage, and the Lessons of Long-Term Capital Management"--the group noted that regulators would
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