(The Australian) China’s hedge fund operators can expect more stringent regulation from their self-regulatory industry body in an intensifying crackdown on fraud and illegal money raising, the Asset Management Association of China (AMAC) says.
AMAC, the self-regulatory body that oversees private funds, said late on Friday the new rules were intended to further protect investors’ legal rights and to regulate the private fund management industry, described by some insiders as a “Wild East” rife with fraud.
