Board Member Antonio Weiss: Market turmoil shows need for more hedge fund scrutiny

[This op-ed by Antonio Weiss was originally published in the Financial Times.]

Once again hedge funds are facing increased scrutiny for their role in a crisis moment in financial markets. This time, regulators need to take more action.

The Financial Stability Board, which gathers the world’s leading financial regulators and finance ministries, this week released a comprehensive review of the turmoil that gripped financial markets in March.

The report highlights the role played by non-bank market participants in fanning a fire that the US Federal Reserve ultimately put out with unprecedented liquidity. Yet the American counterpart to the FSB, the Financial Stability Oversight Council, has been notably silent.

Read the full article in the Financial Times.