UK's Financial Services Authority is putting together a hedge fund supervision team that will be operational by 31 October under Andrew Shrimpton.
The five-person team will consolidate all the various supervisory officers overseeing hedge funds into a single team managed by Shrimpton.
The creation of the new team is in accordance with the recent Discussion Papers on hedge funds (see previous Hedgeweek articles) that outlined the creation of the team to take forward the supervisory process at the FSA.
The FSA currently maintains three levels of supervision, with around 25 hedge fund companies on the 'highest impact' list. When the results of the DPs are returned, it is expected that this list of 25 companies may change to reflect new supervisory guidelines.
The FSA would not disclose the names of the 25 companies on the list.
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