ThedaBenjaathon
10-26-2004, 07:16 PM
A new SEC rule will go into effect in February 2006 that will require hedge fund advisors to register with the agency and submit to examinations. However, the new rule has already received criticism from groups such as the US Chamber of Commerce which believes the rule may negatively affect the market.
"Donaldson argued for the crackdown as hedge funds targeted less affluent investors and became implicated in a wave of scandals involving improper trading in mutual fund shares."
"Some business groups criticized the SEC on the hedge funds measure. The U.S. Chamber of Commerce -- a frequent SEC antagonist -- warned of ``negative implications'' for markets."
To learn more go to: http://news.moneycentral.msn.com/breaking/breakingnewsarticle.asp?feed=OBR&Date=20041026&ID=4055033
"Donaldson argued for the crackdown as hedge funds targeted less affluent investors and became implicated in a wave of scandals involving improper trading in mutual fund shares."
"Some business groups criticized the SEC on the hedge funds measure. The U.S. Chamber of Commerce -- a frequent SEC antagonist -- warned of ``negative implications'' for markets."
To learn more go to: http://news.moneycentral.msn.com/breaking/breakingnewsarticle.asp?feed=OBR&Date=20041026&ID=4055033