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The SEC will change the requirements in spite of thousands of investors’ comment letters protesting them, McHugh said.
In addition, the SEC is considering applying anti-fraud rules to hedge funds and is also considering imposing requirements for investing in a venture capital fund. “We’ll be looking carefully at that issue, as well,” McHugh said.
Finally, the SEC will soon put behind it the long-debated issue of independent chairmen, she said. “I think it would be good for the fund industry is we could put that behind us,” she said.