Upholding investment fund status quo ‘not an option’
While some collaboration would be necessary to settle on the finer points of the EU Alternative Investment Fund Management Directive, Sally Dewar, managing director of the Financial Services Authority's (FSA) risk division, said in no uncertain terms that clinging to the status quo was simply not an option available to the industry.
She argued that the investment fund industry needed to:
• identify and address the weaknesses in its present arrangements;
• differentiate between types of
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