Some of the world's largest hedge funds will shun the Securities and Exchange Commission's public hearings into the industry as the US regulator steps up its investigation into the industry this week.

Among the most notable absentees from the hearings taking place in Washington on Wednesday and Thursday are Moore Capital, Farallon Capital Management, Citadel Investment Group, Och-Ziff Capital Management, Caxton Corporation and Tudor Investment Corporation. Together, these firms manage some $40bn (€35m) of hedge fund assets.