U.S. and Britain Seek to Keep Tabs on Hedge Funds

New York Times – American and British financial regulators agreed Wednesday to explore ways to coordinate reporting and regulatory requirements for key market participants, including hedge funds. By working together, the regulators hope to avoid a situation in which hedge funds would jump between New York and London to avoid regulatory scrutiny.

“As the regulators of two of the world’s major market centers, the S.E.C. and the F.S.A. have a strong interest in collaborating,” Mary L. Schapiro, the S.E.C.’s chairwoman, said in a statement. “Only though strong cooperation can we achieve coherent oversight of global actors and limit opportunities for playing the regulatory seams.”

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