October 29, 2006
A Frank Look At The Hedge Fund Industry
Heard of Barney Frank? Chances are, you haven’t. But you will not have to wait for long – Frank is set to become chairman of the powerful House Financial Services Committee, chaired until recently by Michael Oxley, joint author of the Sarbanes-Oxley Act. This new appointment is going to have some effects on the hedge fund industry.
Hedge fund regulation is likely to feature highly on the committee’s agenda if the Democrats take control, though there is no consensus about reforms. According to certain highly placed officials, Frank has expressed concern about the size and influence of hedge funds and their lack of regulation. Focus will be on the scope of the risks that hedge funds present – particularly for public pension plans.
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