Fri, Jul 28, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Australia vows improved hedge fund disclosure, seeks recognized definition

Thursday, May 23, 2013

From Komfie Manalo, Opalesque Asia – Australia’s market regulator, the Australian Securities and Investments Commission (ASIC), said it would allow submissions from industry players to better define "hedge funds." The order was given on concerns that the current definition affected a number of funds that do not exhibit the same risks to investors as 'true’ hedge funds, ASIC said in a statement.

Currently, Australia has no universally recognized definition of a hedge fund. ASIC already sought two consultations on the definition in the context of seeking input on appropriate investor disclosure by hedge funds.

In developing the definition in RG 240 ASIC, hedge funds are classified into the following:

  • certainty in application – a definition that is capable of being applied consistently and with certainty by a court
  • consistency with international regulatory approaches, industry associations and other bodies such as IOSCO, and
  • common characteristics associated with hedge funds that are of particular regulatory concern, such as the use of leverage, derivatives or short selling.

In June of last year, ASIC released a ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Oaktree's Howard Marks issues another cautionary tale[more]

    Benedicte Gravrand, Opalesque Geneva: Oaktree's co-chairman Howard Marks' latest memo is another cautionary one that advoca

  2. Launches - Bitcoin hedge fund launches ethereum-subscribed ICO investment vehicle, Jersey players institutionalize first regulated crypto-currency hedge fund[more]

    Bitcoin hedge fund launches ethereum-subscribed ICO investment vehicle From Coindesk.com: The operators of a regulated, Jersey-based bitcoin hedge fund have officially closed a new $5 million fund aimed at investing in cryptocurrency tokens and initial coin offerings (ICOs). Backed by fun

  3. SWFs - China Wealth fund backs TPG lender as part of U.S. property push[more]

    From Bloomberg.com: China Investment Corp., the sovereign wealth fund that controls $814 billion in assets, is betting on U.S. real estate by investing in a commercial real estate lender formed by the money management firm TPG. In conjunction with last week's initial public offering of TPG RE Financ

  4. Months to minutes: Enigma launch aims to boost crypto hedge fund creation[more]

    From Coindesk.com: What if starting a hedge fund was as easy as downloading an API? A startup incubated at MIT Media Lab is today revealing a product designed with this ease-of-use in mind. Called Catalyst, the first product offering by blockchain startup Enigma aims to trigger nothing short of an e

  5. North America - Hedge funds disclose their Puerto Rico debt holdings, US dominates new money portion of Greece's debt sale[more]

    Hedge funds disclose their Puerto Rico debt holdings From Reuters.com: A group of hedge funds that hold about $3 billion of Puerto Rico sales-tax-backed debt released a court filing late on Tuesday that revealed how much of the total amount each fund manages. Decagon Holdings LLC,