Hedge funds in Sweden have been thrown into a harsh spotlight by the country's regulator. According to HedgeNordic, if Sweden's Financial Services Authority had its way, it would abolish all performance fees for funds that return no better than "comparable interest rates." That assessment comes after the FSA took a random look at 47 of the country's 90 fund companies that charge such fees, and found flaws in the way in which they were calculated or even defined performance fees. These 47 companies are the only ones that charge performance fees – and they all happen to be hedge funds. The agency said the fee structures are too complex, which invites problems for investors, such as the charging of unnecessary fees, HedgeNordic reports. The FSA says it expects that any fee structure that could result in unfair expenses for investors "must be either reworked or discontinued." The agency also notes that there is room for improvement in how hedge funds disseminate information on fee structures to investors.