Talk of regulating hedge funds has spread north of the border. Canada's largest and most influential regulator, the Ontario Securities Commission, is quietly pondering hedge fund regulation.
The OSC has so far taken no overt action to regulate hedge funds under its jurisdiction. But a number of Canadian hedge fund groups, including banks with fund operations, have received surveys from the OSC, a development that parallels the fact-finding that the U.S. Securities and Exchange Commission undertook in 2001, just prior to beginning on its path toward regulation.
Interestingly, a number of officials at top Canadian banks have been publicly