The UK’s Serious Fraud Office announced that it is working on creating a hedge fund red –flag warning system. This is a follow up to the two arrests that were made in earlier this week in relation to the Weavering Capital fraud.
The Weaving arrests made via raids at houses in Kent and Surrey marks the first arrest in a hedge fund case in the UK.
It will be interesting to see if regulators in other jurisdictions create similar red-flag systems warning systems. Furthermore, I would like to see how such systems integrate any operational risk concerns instead of focusing purely on investment related concerns and the use of leverage as most of such previous proposal have in the past.
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