Bill Would Bring Hedge Funds Under SEC Scrutiny
The Hedge Fund Transparency Act of 2009, introduced by Sens. Carl Levin, D-Mich., and Charles Grassley, R-Iowa, would require that all hedge funds and other alternative investment groups managing $50 million or more register with the SEC, closing what the two senators called a “loophole” in the Investment Company Act of 1940.
The senators said that recent financial scandals, including the collapse of two offshore hedge...
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