To ask the Chancellor of the Exchequer pursuant to the oral statement of 8 July 2009, Official Report, columns 969-87, on reforming of financial markets, what his definition is of systematically important hedge funds; and which hedge funds fall into this category. (286628)

A financial institution can be said to be of systemic importance when its failure could cause serious disruption to the financial system. In order to more closely monitor the systemic impact of hedge funds the Government are working with the Financial Services Authority to put in place a system of enhanced surveillance that can gather relevant and timely information on the funding, leverage, investment strategies and, in some cases, investment positions of individual funds managed from the UK.