SEC Will Not Appeal Hedge Fund Decision

Law360, New York (August 8, 2006, 12:00 AM EDT) -- The Securities and Exchange Commission will not appeal the court ruling that struck down the SEC’s rules regulating the hedge fund industry, SEC Chairman Christopher Cox said on Monday.

“Since the appellate court’s decision was based on multiple grounds and was unanimous, further appeal would be futile and would simply delay and distract from our goal of advancing investor protection,” Cox said.

“Instead, the Commission is moving aggressively on an agenda of rulemaking and staff guidance—some of which may be issues as early as this week—to...
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