After coming under harsh scrutiny in recent months, most recently via the Canary Capital Partners scandal, the hedge fund industry was handed what many feel is a victory Monday. After analyzing the Securities and Exchange Commission’s proposed rule changes, some industry insiders said they don’t think they will greatly alter companies’ day-to-day operations, The Wall Street Journal reports.

The SEC said that most hedge-fund managers will be required to register as investment advisers, opening the door to auditing and inspection. The commission hopes that this move will help snuff out funds operating improperly.

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