The US Securities and Exchange Commission is considering shifting some of its regulatory burden to state authorities as a result of the increased workload it will face following last week's decision to take greater control of the $800bn (€624bn) hedge fund industry.

At a meeting of the Greenwich Roundtable, a gathering of hedge fund professionals, Paul Roye, director of the investment management division at the SEC, said if the burden increases too much as a result of the new rules, the SEC would be forced to pass oversight of some funds to state regulators.