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Politics : Sioux Nation
DJT 14.40+2.8%Jan 9 9:30 AM EST
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To: Rock_nj who wrote (156414)12/20/2008 4:56:37 AM
From: stockman_scott1 Recommendation  Read Replies (1) of 362211
 
an interesting post on the bloggingstocks website:

12-18-2008 @ 6:14PM

hedgefundgirl said...

The SEC and other regulatory bodies are not equipped or staffed to be able to regulate hedge funds or other offshore or private investment partnerships. I have been through an SEC audit while at the fund of hedge funds firm where I am employed, and it was CLEAR that the regulators did not understand the different investment strategies, asked questions that were applicable to traditional long-only money managers but not meaningful for fund of funds and we spent a great deal of time educating them (gently, of course...we wouldn't want to anger the ill-equipped regulators) on what types of information are relevant to an alternative-investment style audit. The SEC can barely monitor the traditional money managers...they would need to completely overhaul their staff and go through a complete educational process to adequately be able to provide oversight for non-traditional investment strategies. It was actually a pretty sad thing...considering that as we were helping them to understand what is important to look at, we really could have pointed them in any direction. The SEC is understaffed, undereducated and overly confident...which is a pretty frightening concept.
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