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UK Financial Services Authority Document: Assessing possible sources of systemic risk from hedge funds - A report on the findings of the hedge fund as counterparty survey and hedge fund survey

( February 23, 2010, 18:02 GMT | Official Statement) -- MLex Summary: Hedge funds pose little risk of destabilising financial markets or the banking industry, the British financial regulator said in its conclusions on two October 2009 surveys of hedge funds and banks that fund them. In the first of a planned series of reports on whether hedge funds cause price swings and other market hazards, the "data shows a relatively low level of ‘leverage’ under our various measures and suggests a contained level of risk," the FSA said. In the periodic survey on funds' borrowing, the regulator said the biggest of the so-called alternative investments represent a "manageable" risk to their banks.Extract: It is also notable that the Alternative Investment Fund Managers Directive, which is currently under negotiation in Europe, may at some point in the future require national supervisory authorities such as the FSA to collect certain data from alternative investment fund management sectors, including hedge funds.We hope that our work in this area can contribute to the ongoing debate about the Directive....

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