Illiquid funds could pose global systemic threat – Carney

Bank of England governor Mark Carney
Mark Carney

Global regulators must prevent the emergence of new systemic threats posed by dishonest fund management practices and the rise of market-based finance, according to Bank of England governor Mark Carney.

The growing importance of illiquid investment funds in the global system was a “big deal”, he told a hearing of the UK’s Treasury Committee on June 26. “You can see something that could be systemic.”

Carney said it was highly problematic that some funds promised daily redemptions despite the

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