Based on observations of the hedge fund regimes in the U.S., the U.K., and Korea, this book concludes that the current regimes have succumbed to the pressure to overregulate: It would be prudent for future regulatory efforts to focus on making the hedge fund market accessible to only accredited investors, and the role of a visible regulatory hand in this market should be refrained from to the extent necessary to promote market competition and financial innovation, while mitigating potential systemic risk from hedge fund failures.
