Martin Cornish and Edward Black Author Article in Alternatives on Hedge Fund Regulation

Martin Cornish, the firm’s Managing Partner, and Edward Black, a special counsel in the Financial Services Practice, authored an article in Alternatives on international regulation of hedge funds. “In our view, calls for supra-national regulation of hedge funds were never realistic,” they write. Some key regulators, including the UK Financial Services Authority, argue that the current regulatory framework is adequate, and hedge fund managers are leery of additional regulations. Furthermore, the authors explain that existing standards for self-regulation in the UK and the US differ, concluding, “The lack of uniformity in these ‘industry standards’ implies that the ‘industry’ and its practices are not standardised across the globe. The result is that a uniform set of rules or a single worldwide regulatory standard, let alone a single regulator seems a long way off.” (“International Regulation of Hedge Funds—Hype or Reality?”, May 2008)