South Africa Publishes Hedge Fund Regulations

Summary

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JOHANNESBURG, South Africa (HedgeWorld.com) - South Africa's Financial Services Board has published regulations to govern the country's emerging hedge fund industry. The new regulations require managers to apply to the FSB for a category IIA financial services provider license by the end of February 2008.

A report by Business Day, the South African daily financial newspaper, said that attention will be paid to the applicant's operational ability and risk management processes, as well as to the types of investors in the funds. In addition, those responsible for the management of the funds will need to meet certain "fit and proper" requirements, including character qualities of integrity, appropriate qualifications and experience.

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Extract

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South Africa Publishes Hedge Fund Regulations

The FSB said the regulations are to ensure the activities of hedge funds become more transparent. The Alternative ...

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