Two global regulatory bodies have divided remits for further work in their recommendations for oversight of the global buyout industry as the clamour for further rules on private equity and hedge funds increases.

Iosco, the global committee of securities regulators, has decided not to pursue an investigation of leverage, which was proposed following an earlier report analysing the risk to securities markets posed by private equity. It decided this investigation would duplicate work already done by its central bank counterpart, the Bank for International Settlements.