FSF hedge fund report due by year-end

16 April 2007

The head of a body investigating the need for greater regulation of hedge funds to minimise economic risks for the global economy has announced that a report will be complete by the end of 2008.

Mario Draghi, who is heading up the Financial Stability Forum, also announced at a conference in Washington that an initial draft of the report will be ready ahead of May's scheduled G7 meeting on the subject.

Meanwhile, Christian Noyer, who was hosting the conference, used the occasion to outline the investigation's aims, stating that it was looking to "reconcile keeping the positive inputs of this activity for financial markets functioning and innovation, while limiting the risks that may be generated for financial stability to a minimum".

News of the study coincides with reports of a campaign headed by German representatives at the ongoing G7 gathering calling for closer supervision of private asset management companies amid fears that should one collapse it would have severe consequences for national economies.

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