US hedge funds have enjoyed “tremendous” growth and gained more financial muscle, but the trillion-dollar industry of private capital pools doesn’t need fresh regulation, a senior Treasury official said Tuesday.
Treasury under secretary for domestic finance, Robert Steel, said US financial regulators had moved to boost oversight of hedge funds, but he stressed that new regulations were not needed to enhance policing.
“We reject calling for more regulation just for regulation’s sake,” Steel, a former Goldman Sachs executive, said in a speech at the Treasury.
