BoE's Gieve says hedge funds pose stability risks

Bank of England deputy governor John Gieve has warned that hedge fund activity does pose short term risks to financial stability.

'Periods of rapid growth and innovation in financial markets have often led to difficulties and overshooting and we should not assume that this one will be different,' he told an audience of sector experts at a key hedge fund conference.

'If we face a financial crisis in the next few years we are almost bound to find some hedge funds at or near the centre of it,' he

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