IMA urges tax reform for onshore hedge funds

Tax reform to bring hedge funds onshore and addressing the increasing retail demand for hedge funds are the two issues the FSA must consider when changing regulations for hedge funds, according to the Investment Management Association. The FSA's Discussion Paper 16 "Hedge Funds and the FSA" released in August this year sought views on the selling and marketing of hedge funds in the UK and the regulation of UK based hedge fund managers. The IMA's Director of Regulation and Tax, Julie Patterson, believes "it would be premature to allow a wide range of hedge funds to be authorise...