The Hindu Business Line : Global market regulators to discuss hedge fund challenges

MUMBAI: India will host for the first time a global market regulators' annual conference here next year that will highlight challenges posed to capital markets by fly-by-night hedge funds.

The Securities and Exchange Board of India (SEBI) will host the 32nd annual conference of IOSCO (International Organisation of Securities Commissions) from April 9 to 12, next year, a SEBI release said.

The opening session for all participants will be on securities exchange evolution and regulation of trans-national securities exchange. There will also be a full session on accounting and auditing with an international perspective.

The crucial session will be on hedge funds - new regulatory challenges as it will be the focus of the meet.

Hedge funds usually are vicious to stock markets as they are in the form of hot money with large corpus and they enter and exit capital markets by way of participatory notes through foreign institutional investors, making it difficult to trace the source .

Capital markets and economic development where new avenues to finance small and medium enterprises will be another major session.

IOSCO's membership of over 100-jurisidictions is responsible for regulating over 90 per cent of the world's securities market.

SEBI Chairman Mr M Damodaran was elected IOSCO's Emerging Markets Committee (EMC) chairman in June 2006. EMC has more than 70 countries on its list. - PTI

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