SEC Unveils Hedge Fund Enforcement Unit

Law360, New York (August 1, 2007, 12:00 AM EDT) -- Seeking to combat the image of laxness currently associated with hedge fund regulation, the U.S. Securities & Exchange Commission has decided to establish a special unit within its enforcement division to crack down on the growing problem of insider trading in the hedge fund industry.

On Tuesday, SEC Chairman Christopher Cox revealed the unit's creation while giving testimony before the U.S. Senate Committee on Banking, Housing and Urban Affairs on the agency's recent work and plans for the future.

“In the past few years, the Commission...
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