NEW YORK-Hedge funds can't run or hide from regulators, and the accredited investor, anti-fraud and insider trading rules will be three of the key issues the Securities and Exchange Commission will focus on this year, Bruce Karpati, assistant regional director at the SEC told attendees at the National Investment Company Service Association's "Alternative Investments Conference" here last week.

The new proposed wealth standard would require investors to have minimum investable assets of $2.5 million, an increase from the $1 million current minimum, and would exclude real estate or closely held company stock. In addition, the SEC would increase the dollar amount every five years to adjust for inflation.

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