The SEC announced it will not appeal the court decision that nullified its hedge fund registration rule, given the fact that the court gave several reasons for doing so and was unanimous in its decision, SEC Chairman Christopher Cox said.

"Further appeal would be futile and would simply delay and distract from our goal of advancing investor protection," Cox said. Instead, the SEC will promote voluntary registration and encourage those already registered to remain registered, and it may raise the income and asset requirements for those who invest in hedge funds.

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