NASD’s Glauber: Gotta Raise the Bar on Hedge Funds

We're not in the habit of reading texts of speeches by heads of regulatory bodies (snooze fest!), but we took a quick gander at what the top dog at the NASD had to say a couple weeks back about hedge funds. Though we think the genie's out of the bottle on this one, CEO Richard Glauber expressed some alarm at the retailization of hedge funds. His main observation is legit though: The financial threshold to meet the definition of a "sophisticated investor"--$1 million net worth or $200,000 annual income--were put in place in 1982. Now that a first year associate would qualify, Glauber thinks it time to raise the hurdle a bit. Address by Robert Glauber [NASD.com]

Comments:

<< Back to main