It would appear as a light in the distance, which a traveller would mistake for houses. As they reached the place where they thought the light was, it would move further ahead, drawing them deeper into the marsh to their untimely death and a watery grave. In some areas, will-o’-thewisps were said to mark buried treasure.
Internationally, both the Basel Committee on Banking Supervision and the International Organization  BIS Review 41/2006  1  of Securities Commissions produced papers on sound practices in dealings with highly leveraged institutions, and the Basel Committee conducted a series of follow-up studies. An alternative policy response that the Working Group considered, but did not recommend, was direct regulation of hedge funds.