One of the five commissioners at the head of the US Securities and Exchange Commission (SEC) suggested this week that hedge funds may help to resolve the market turmoil surrounding sub-prime US mortgage loans.
According to reports, Paul Atkins told French business school, Edhec that:
"We must remember that hedge funds are likely to be an important part of the solution to the sub-prime crisis."
Atkins also recommended that, as the hedge fund industry became more international, European and US regulators should learn from each other’s approach to regulating hedge funds.
"Hedge funds and other shareholder activists may have created a negative impression by pursuing their own self-serving agenda at times."
"This problem may be exacerbated by ‘empty voting’ and similar practices that are based on decoupling voting rights from economic interests. This is why good disclosure is so important in this area," Atkins went on to add, according to a Financial News report.
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