Panel Declines To Set Regulations On Hedge Funds

Law360, New York (February 23, 2007, 12:00 AM EST) -- A presidential panel issued a series of self-policing guidelines for the $1.2 trillion hedge fund industry on Thursday, arguing that the industry would be better at protecting investors than the government.

The President’s Working Group on Financial Markets said a “principles-based approach” would best address the issues surrounding a fast-growth industry that uses unusual investment strategies to help its investors win, and sometimes lose, vast amounts of money.

Unlike mutual funds, pension funds and insurance companies, hedge funds are not currently subject to any direct regulation...
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