Caymen Net News – Local hedge fund experts have reacted favourably to last week’s proposals by the Inspector General of the US Securities and Exchange Commission (SEC) to increase fund regulation.
The SEC has proposed that regulation of hedge funds and other investment advisors should be tightened in the wake of the SEC’s failure to stop Bernard Madoff’s $65 billion Ponzi scheme.
Don Seymour, former Head of the Investment Services Division of the Cayman Islands Monetary Authority (CIMA) and Managing Director of dms Management Ltd, said:
“These are meaningful suggestions that are worth consideration. If implemented, they would both enhance protections to investors and respect the privacy of private investment funds, in stark contrast to recent disclosure proposals put forward locally by individuals that do not address systemic risks and betray the private nature of investment funds.”