The rising demand for action


In March 2003, the SEC invites other national regulators, including the UK's Financial Services Authority, to attend a 'global summit' on regulation of hedge funds.

Hearings on hedge fund regulation are announced by the Senate Banking Committee and House Financial Services Committee in Washington DC.

In February 2003, new SEC chairman William Donaldson says that the agency will take a "long, hard look" at hedge funds.

In January 2003, SEC commissioner Roel Campos says agency officials are discussing a complete overhaul of regulations affecting hedge funds, including potential limits on short selling and leverage.

Having overhauled practices on Wall Street relating to