The Securities and Exchange Commission has announced speakers for next Wednesday’s hearings on hedge funds.

The list contains "big hedge funds, lawyers, pension funds and even mutual fund lobbyists," Reuters reports.

Soros Fund Management, long considered an industry icon for having made $1 billion on a bet against the British pound in the 1990s, will be there as well as Andor Capital, a firm that manages money for big pension funds. A handful of attorneys, including Paul Roth of Schulte Roth & Zabel, will be there.

The hearings will be webcast live and are expected to address a multitude of issues related to the $600 billion dollar hedge fund industry, which is considered by many to be loosely regulated. Hedge fund executives and lawyers said they fully expect the SEC to come out with more regulation, although they do not know what that might be.

Earlier this week, Arthur Levitt, former chairman of the SEC, told a hedge fund conference in New York he would like to see the regulator require hedge funds to register with it, to be audited and to keep records of their fees and performance. "This will go a long way to laying a solid foundation of transparency and accountability – and it should be considered," Levitt said. Furthermore, Levitt would like to make sure that mutual fund companies that also sell hedge funds don’t place more favorable trades with their hedge funds at the expense of mutual fund investors.

Some hedge fund managers told Reuters they fear the SEC will turn them into mutual funds.

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