International Organization of Securities Commissions (IOSCO)
published a paper on standards and best market practices aimed
at addressing regulatory issues of investor protection that
have come out of increased involvement of retail investors in
funds of hedge funds.
In 2008, IOSCO outlined concerns over funds of funds dealing
with liquidity risk and the due diligence process. The
standards, Elements of International Regulatory Standards on
Funds of Hedge Funds Related Issues...