Business Services Industry
Hedge fund managers may see new regulations from SEC.
Knight Ridder/Tribune Business News, July, 2004
By Daniel Dunaief, Daily News, New York Knight Ridder/Tribune Business News
Jul. 15--Hedge fund managers, who often take big risks investing money on behalf of rich clients and former moguls, may have to register with the Securities and Exchange Commission.
In a 3-2 vote, the SEC yesterday proposed a host of regulations of what has long been an all but unregulated Wild West of investing.
That could mean an industry that's approaching $1 trillion could soon face more rigorous spot exams, and disclose more about its investments and its investors than its closed, secret world has ever done.
The new regs are a tribute to the fact that hedge funds, originally designed for people who can invest over $1 million, have become...
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