No concerns with banks participating in hedge funds: Canadian Regulator
| Feb 1st, 2007 | Filed under: Hedge Fund Regulation | By: Alpha Male |
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On Wednesday, January 31, The Canadian regulator responsible for overseeing the banking sector told a senate committee that it doesn’t “have any concerns with the participation of Canadian financial institutions in hedge funds.”
This comes on the heals of similar remarks by the Bank of Canada. Just last Thursday the Bank of Canada Governor David Dodge said that “innovative financial instruments” have been “extraordinarily robust” during recent economic shocks. Reports Canada Press:
“There are economic factors that cause anxiety for the governor of the Bank of Canada, but hedge funds and derivatives are not among them. New financial techniques – so far – have lived up to their promise of redistributing risk away from banks and into hedge funds, pension funds and other institutions more willing to bear it, David Dodge said after a speech Thursday.”
And this comes after Dodge’s deputy governor told a conference in November:
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