Hedge Fund Bill Only Restores SEC Oversight: Sen.

Law360, New York (April 28, 2009, 12:00 AM EDT) -- In an attempt to allay hedge fund managers' fears about proposed regulatory measures, Sen. Chuck Grassley, R-Iowa, has said the bill he sponsored aims only to restore the U.S. Securities and Exchange Commission's authority to regulate the $1.3 trillion hedge fund industry.

In a speech at the Reuters Global Financial Regulation Summit in Washington on Monday, Grassley told the audience that the Hedge Fund Transparency Act of 2009, introduced in January with co-sponsor Sen. Carl Levin, D-Mich., will take aim at overturning a 2006 D.C. Court...
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