FSB plans to take action

THE FINANCIALServices Board (FSB) has threatened to take regulatory and enforcement action against hedge funds that fail to register. The funds had until September 30 to apply for registration in order to continue operating, the Pretoria-based regulator said yesterday. “The Registrar of Collective Investment Schemes is concerned that to date, no application has been received from hedge-fund operators, almost three months since the declaration came into effect,” the FSB said. – Bloomberg