Compliance experts within FRSGlobal's Centre of Risk & Regulatory Excellence (CoR2E) are actively monitoring the discussions taking place at the various US regulatory agencies and are ready to advise hedge funds on the best ways to automate their reporting processes as soon as any new legislation is enacted.

Richard Ferrari, vice president - Americas, FRSGlobal, says: "US regulators are demanding more oversight of the hedge fund industry which means that registration is imminent. Hedge funds are going to be subject to far greater scrutiny than ever before. Whether it is increased transparency around the trading and valuation of OTC derivatives and structured products or the amount of leverage being taken on, regulators are going to require comprehensive, timely and accurate reporting, a requirement that hedge funds typically have little experience of.

"While the exact form of regulatory reporting is still to be finalized, it is clear from our discussions with market participants and US governing bodies that there is going to be an overwhelming need for the kind of flexible risk and regulatory reporting tools developed by FRSGlobal that have helped hundreds of banks worldwide meet the their regulatory needs over the past twenty years. This experience and expertise is now going to be available to the hedge fund industry."