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Business Briefing / Wall Street

Panel backs rules on hedge funds

October 28, 2009|Times Staff and Wire Reports

The House Financial Services Committee voted to regulate for the first time hedge funds and other large pools of privately managed capital.

The bill, which received broad bipartisan support in a 67-1 vote, was aimed at shedding light on an elite group of investors that have escaped government oversight despite their hefty portfolios.

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