SEC Turns Up Heat On Hedge Funds

Law360, New York (August 17, 2007, 12:00 AM EDT) -- On July 31, 2007, SEC Chairman Christopher Cox announced the creation of a new hedge fund task force within the Enforcement Division as the Commission's latest effort to "enhance its efforts to combat hedge fund insider trading."

Although no other details were disclosed with respect to the new unit's formation, the creation of a task force dedicated to scrutinizing hedge funds suggests a greater need for fund managers to stay abreast of the latest SEC staff interpretations that may affect business practices.

Rule 10b-5

Hedge funds...
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