August 07, 2006

SEC Not to Appeal Court Decision on Hedge Fund Rule

The US Security and Exchange Commission (SEC) has decided not to appeal a court decision that struck down an agency rule imposing tighter controls on hedge funds. However, the SEC may tighten its fraud protections and raise income and asset requirements for individual hedge-fund investors. Since the appellate court's decision was based on multiple grounds and unanimous, the SEC decided not to raise further controversy by appealing against it.

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