Just days after the Securities and Exchange Commission ratified a plan that would require hedge fund firms to register as investment advisors, Chairman William Donaldson had to defend his decisive vote to skeptical Republican senators amid not-so-new news that Federal Reserve chairman Alan Greenspan is also against the plan.

At a Washington hearing Thursday, Republican Senators questioned the plan, which would force all companies with hedge fund assets of more than $25 million or client bases of 15 or more to register with the SEC, thus dishing out stricter rules and more examinations.

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