NASAA Listens Forum to Focus on Hedge Funds

Experts to Examine Hedge Fund ‘Retailization’

WASHINGTON (March 14, 2006) —The North American Securities Administrators Association, Inc., (NASAA) today announced plans to host a public forum to explore the ramifications of the sale of hedge funds and funds of funds to retail investors and the challenges this trend poses to regulators charged with upholding investor protection. The “NASAA Listens” Forum is scheduled for April 4 from 12 noon to 2:30 p.m. in the Astor Room of the Intercontinental Barclay Hotel, 111 East 48th Street, in New York City.

“Once an investment opportunity available only to the wealthiest investors, hedge funds are increasingly finding their way into the portfolios of Main Street investors, largely through pension plans,” said NASAA President and Wisconsin Securities Administrator Patricia D. Struck. “For the securities industry, investors and regulators alike, these developments pose a pressing question: Is the ‘retailization’ of hedge funds good for investors?”

The Forum will take place against a backdrop of rapid growth in the hedge fund industry – assets have risen more than sixfold during the past decade to $1.1 trillion and the number of hedge funds has doubled to almost 8,700 since 2001 – and the high-profile collapse of two large hedge funds, Bayou Management and Wood River Capital Management.

The “NASAA Listens” Forum will feature a panel of legal, regulatory, and industry experts who will examine the growth of the hedge fund industry and factors fueling the demand for alternative investments, recent national and international developments regarding alternative investment products and regulation, as well as suitability, transparency, and distribution issues.

The Forum is free and open to the public on a first come, first serve basis. Onsite registration begins at noon, followed by a luncheon. The program begins at 1 p.m. To reserve a seat, please contact Lonnie Martin, at 202-737-0900 or, by March 31.

NASAA is the oldest international organization devoted to investor protection. Its membership consists of the securities administrators in the 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Canada, and Mexico.

For More Information:
Bob Webster
Director of Communications

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2006 Headlines, Newsroom