SIFMA applauds regulators' approach toward hedge funds

No new regulations are needed to protect the economy from risks associated with hedge funds and private equity, according to a study by U.S. regulators. The report -- signed by the heads of Treasury, Federal Reserve, Securities and Exchange Commission and Commodity Futures Trading Commission -- suggests that "market discipline" and adherence to a series of nonbinding principles will provide adequate safety for investors, markets and the global economy. That approach met with approval from Micah Green, co-CEO of the Securities Industry and Financial Markets Association, who said: "Too often, regulators reach immediately for new laws or rules which can have the unintended consequence of stifling innovation or smothering markets."

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