anyone know reason(s) that hedge funds are not included in the Patriot Act but ERISA governed pension funds are????


this seems rather strange seeing that hedge funds have scant reporting requirements whereas pension funds are highly regulated. wouldnt it make sense that money laundering was much more rampant in the less regulated hedge fund world than highly regulated pensions?

am i missing something?

any thoughts?

Yes. Most hedge funds are almost completely unregulated, and many are organized offshore. There is no way to force hedge funds to comply with any requirements, so the government just left them out of the requirement.

thanks.

but for the funds that ARE domicilled in the US though, why are these not scrutinized??? it seems completely ABSURD. just like foreign tax heavens like cayman, guernsey, jersey, etc, we have no control over the offshore players but for ones that are HERE we are looking away? seems like a big scandal to me.

im fully aware that the answer will not be posted on this website!!!! . . . but was curious what others thought and if ya'all agreed?