SEC to Seek Increase in Hedge Fund Requirements

Speaking at a Securities Industry and Financial Markets Association conference last week, Securities and Exchange Commission Chairman Christopher Cox indicated that the SEC will propose higher minimum investment requirements for hedge funds, Bloomberg reports. The SEC is also going to propose a new hedge fund anti-fraud rule. “We’re going to make it very clear that hedge funds are risky investments that are not for Mom and Pop by fencing it off with higher standards to accrediting investors,” Cox said. Cox also said he is “strongly supportive” of plans to combine the examination divisions of the NASD and New York Stock Exchange.   The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.