With attacks raining in from all sides the industry is
burying its head in the sand as the regulators and the tax man
After months of attacks on the hedge fund industry from
regulators, taxmen, lobby groups, leading attorneys and the
press, the US hedge fund industry is resigned to some form of
regulatory change. The only question remaining is: how far will
Some of the big hedge fund groups have even instructed their
legal counsel to explore the implications of moving their main
operations offshore in the event that the environment gets too
hostile. They stress that this is just a precautionary step and
say that they hope nothing drastic happens or, better still,
that nothing at all happens.
However, the chances of the industry being left alone as
happened after previous investigations seem unlikely. Most
people expect that, at a minimum, hedge funds will have...