FSA says it won’t restrict long/short funds

NEWS ANALYSIS | REGULATION | WATCHDOG TAKES HANDS-OFF APPROACH TO MULTI-STRATEGY FUNDS

LONDON – The UK’s Financial Services Authority (FSA) has no intention of investigating or limiting hedge fund managers who run both long-only and long/short funds, according to Dan Waters, the regulator’s director of retail policy and asset-management sector leader.

The US Congress discussed this issue on the house floor but the bill was struck down, said Cynthia Fornelli, former deputy director of the investment management division of the Securities and Exchange Commission.

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