The UK's Hedge Fund Working Group has put forward a proposal to charge UK investors a levy which would pay for a new standard-setting body for the industry.
The Group also called for an increase in transparency amongst hedge funds, with Chairman Sir Andrew Large explaining to the UK media that:
"The reason disclosure is at the core of this exercise is because it gives investors, lenders and other stakeholders the information they need to make better-informed decisions."
In addition to better disclosure, the industry group is reportedly seeking to introduce standards covering everything from risk management and fund governance to activism and valuation.
The suggested 'code of conduct' would additionally oblige funds to disclose stakes held in companies. Hedge funds would need to comply with the industry-set standards, or explain why they had not, according to reports on the newly announced proposals.
A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp
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