Regulation stagnation

European regulators have spent over a year investigating whether hedge funds wrongly traded on information obtained in the «pre-marketing» of bond issues launched in 2002 and 2003. We know, courtesy of a public filing made by Lyxor, a fund of funds manager controlled by Societe Generale, that London-based GLG Partners is one of the funds involved. The outcome matters greatly not just to the fund in question, but to the wider market too. The slow pace of the enquiry risks damaging all concerned. ...