Ireland Discussing Regulatory Regime For Retail Hedge Funds

by Jason Gorringe, for LawAndTax-News.com, London

12 November 2004

According to a recent Global Fund News report, the Dublin Funds Industry Association is currently in talks with the Irish Financial Services Regulatory Authority with regard to the creation of a regulatory regime which would allow retail hedge funds to be sold in Ireland.

If such a regime can be put in place, the Republic will become the first European country to endorse the sale of the potentially risky but profitable investment vehicles to non-institutional investors.

The groundwork for the move has already been laid, according to Global Fund News, as the Irish authorities last year created regulations permitting retail investors to access funds of hedge funds.

Speaking to the news service, Dublin Funds Industry Association executive, Declan Casey observed that:

"Alternative investments have been in vogue in the last few years and Dublin has gained a strong reputation in this area but we are well aware of the many obstacles that lie ahead. The issue of disclosure for retail hedge funds remains difficult. But retail hedge funds are definitely on the agenda."

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