ARTICLE · 09 OCTOBER 2012

Hedge Fund Regulation Leaps Forward With The Release Of Policy Framework Document

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National Treasury and the Financial Services Board released a policy document earlier this month which will have a marked impact on hedge funds and collective investment schemes.

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National Treasury and the Financial Services Board released a policy document earlier this month which will have a marked impact on hedge funds and collective investment schemes. The policy document, which was released on 13 September 2012 is named "The Regulation of Hedge Funds in South Africa" and sets out a framework for the direct regulation of hedge funds in South Africa. At the moment, hedge funds are not directly regulated in South Africa, but are indirectly regulated through the regulatory oversight which the Financial Services Board exercises over hedge fund managers, prime brokers and fund administrators.

outline of proposals

Broadly speaking, the framework document makes the following key proposals:

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