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Hedge Funds

BUSINESS
July 10, 2007 | From Times Wire Services
The number of hedge funds subject to inspection by the Securities and Exchange Commission fell 21% in the year since a federal appeals court rejected the agency's effort to require more funds to register. There are 1,977 hedge funds signed up with the SEC, down from about 2,500 a year ago, agency spokesman John Nester said. The U.S. Court of Appeals in Washington struck down the SEC's oversight requirement in June 2006, saying the agency overstepped its authority.
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BUSINESS
August 17, 2004 | From Reuters
Hedge funds that invest in stocks took in a net $13.5 billion in the second quarter, a record, with many of the new investors apparently focused on reducing their portfolio volatility, data released Monday showed. TASS Research, a unit of New York-based hedge fund group Tremont Capital Management Inc., said so-called long/short equity funds attracted the bulk of all money sent to these loosely regulated investment pools, which promise better returns than traditional funds.
BUSINESS
July 18, 2003 | From Reuters
The Securities and Exchange Commission is studying a plan requiring hedge funds to register with it and submit to regulation, sources close to the SEC said Thursday. As it moves toward reining in the loosely regulated investment pools popular with financial institutions and the wealthy, the SEC also is edging toward ordering hedge funds to begin satisfying basic disclosure standards, the sources said. The commission has been investigating the $600-billion hedge fund industry for months.
BUSINESS
November 9, 2006 | From the Associated Press
Federal regulators Wednesday filed civil fraud charges against Edward Ehee, the head of three San Francisco-based hedge funds, accusing him of funneling millions of dollars from investors nationwide into his own mortgage payments, vacations and bank accounts.
BUSINESS
July 15, 2004 | Jonathan Peterson, Times Staff Writer
A deeply divided Securities and Exchange Commission on Wednesday proposed stronger oversight of hedge funds, a fast-growing, $850-billion industry that regulators say poses unknown risks to investors and the economy. Under the proposal, most hedge funds -- investment pools that embrace sophisticated and potentially risky strategies -- would have to register with the SEC, opening the door to greater scrutiny of their activities.
BUSINESS
May 23, 2003 | From Bloomberg News
The Securities and Exchange Commission will consider making "properly vetted" hedge funds open to retail investors, a step that may require government inspections of the funds, SEC Chairman William Donaldson said Thursday. Donaldson said SEC inspections of hedge funds may satisfy concerns that these private investment pools for the well-to-do are too risky for lower-income individuals.
BUSINESS
August 14, 2003 | From Bloomberg News
The assets of hedge funds increased $47 billion in the second quarter, boosted by higher returns from emerging markets and so-called long-biased equity funds, consultant and asset manager HFR Group said Wednesday. The assets rose to almost $665 billion and the number of funds climbed to 5,660, Chicago-based HFR said. This year, 281 new funds have been started.
BUSINESS
September 30, 2003 | Josh Friedman, Times Staff Writer
The hedge fund industry, a fast-growing but lightly policed corner of the investment business, may soon be getting more scrutiny from regulators. The Securities and Exchange Commission's staff recommended Monday that hedge fund managers be required to register with the agency as investment advisors, a change that would give the SEC the power to regularly inspect the funds and force managers to disclose more to their investors.
BUSINESS
August 1, 2007 | From the Associated Press
With stock markets jittery over troubled home loans, senators Tuesday pressed the head of the Securities and Exchange Commission on what the agency was doing about complex mortgage securities and hedge funds that invest in them. The recent turbulence on Wall Street, with last week the worst for the Dow Jones industrial average in five years, was the backdrop as SEC Chairman Christopher Cox testified before the Senate Banking Committee.
BUSINESS
November 14, 2006 | From Bloomberg News
The Securities and Exchange Commission expects to file more enforcement actions against hedge funds over illegal trading and violations of client trust, the agency's head of enforcement said Monday. The SEC is "worried" about both kinds of misconduct, Linda Thomsen, the agency's director of enforcement, said at a securities conference in New York. "I expect to see activity in connection with both," she said.
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