Senator Calls For Hedge Fund Hearings

Law360, New York (June 27, 2006, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission may not be able to govern hedge funds, but at least one senator is determined not to let the $1.1 trillion industry go unregulated.

Senator Chuck Hagel, a senior Republican from Nebraska who sits on the Banking Committee and serves as chairman of the Banking Securities and Investment Subcommittee, called for hearings Monday to determine further possibilities for the oversight of hedge funds.

“We need to take a look at what is responsible and appropriate oversight with regard to hedge...
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