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Article: Hong Kong to permit hedge funds.
- Article from:
- Financial News
- Article date:
- December 2, 2001
CopyrightCOPYRIGHT 2001 Financial News Publishing Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Asia has vivid memories of the effects of the collapse of Long-Term Capital Management and many still blame George Soros for triggering the Asian financial crisis three years ago. But nonetheless, there now seems to be some progress on the rehabilitation of hedge funds.
The Securities and Futures Commission (SFC), Hong Kong's securities regulator, plans to reverse the draconian changes that were put in place during the financial crisis of 1997 to 1998. At the time, the Hong Kong authorities clamped down on the ability of hedge funds to borrow securities and sell them short, hampering their ability to execute even the most basic strategies. It also increased ...