Japanese regulator seeks hedge fund clamp-down

The Japanese Securities and Exchange Surveillance Commission (SESC), has warned that investment banks and hedge funds are becoming "too close" and expressed fears that this could lead to insider trading and other forms of misconduct.

The market watchdog is set to gain new powers in September when the country's Financial Instruments and Exchange Law comes into force. The new law will require hedge funds with more than a certain number of Japanese investors to file or register with regulators.

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