Hedge funds will face greater scrutiny as U.S. market regulators coordinate efforts to uncover illegal trading, the New York Stock Exchange’s head of market surveillance said. “Given the proliferation of hedge funds and the impact they can have on a marketplace, we’re looking at ways to build up our database on hedge funds,” Robert Marchman told Bloomberg News. “Our scope of review of relationships between hedge funds and other financial business-related entities will expand,” he said.
The N.Y.S.E. and the NASD, which are merging their regulatory arms, will work with the Securities and Exchange Commission and the Chicago Board Options Exchange as pressure mounts on regulators to better police hedge funds for crimes, including insider trading, which will be the focus of a Senate Judiciary Committee meeting later today.
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