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Hedge Fund regulation is a paradox. If regulators do not regulate Hedge Funds, markets may be at risk and investors could be insufficiently protected. On the other hand, if Hedge Funds are over-regulated jurisdictional arbitrage with all its economic detriments may occur. One way to address this dichotomy is to set up specific rules requiring disclosure and registration. So far only the German legislator and the US SEC have decided to follow this path of regulation. The dissertation shows how these regulators and others have addressed the problem, underscoring the limited utility of such...

Title IV of the Dodd-Frank Act in the United States and the Alternative Investment Fund Manager Directive in the European Union have introduced lasting changes to the regulatory framework for private funds. This book evaluates the impact of these rules and introduces the regulation of private funds via Basel III as a possible alternative. The increasing role of private funds in the credit derivatives market suggests that an increased emphasis on banks lending exposure to private funds could be justified.