Cox: No need for hedge fund legislation yet

The SEC doesn’t need legislation right now to beef up its oversight of the hedge fund industry, SEC Chairman Christopher Cox said today.
JUL 31, 2007
By  Bloomberg
The SEC doesn’t need legislation right now to beef up its oversight of the hedge fund industry, SEC Chairman Christopher Cox said today at a Senate Banking Committee hearing. At the same time, he warned that legislation could be needed in the future, depending on how the marketplace for pooled investments evolves. Mr. Cox did not provide additional details about his concerns. Mr. Cox said he believes the SEC’s new anti-fraud regulations “essentially filled the hole” created by a federal appeals court decision last year that threw out an SEC regulation requiring hedge funds to register at the agency. In a July 11 decision, the SEC beefed up its anti-fraud regulations to clarify the agency’s authority to police hedge funds and other investment pools, including private equity, venture capital and mutual funds.

Latest News

LPL building out alts, banking services to chase wirehouse advisors, new CEO says
LPL building out alts, banking services to chase wirehouse advisors, new CEO says

New chief executive Rich Steinmeier replaced Dan Arnold on October 1.

Franklin Templeton CEO vows to "do what's right" amid record outflows
Franklin Templeton CEO vows to "do what's right" amid record outflows

The global firm is navigating a crisis of confidence as an SEC and DOJ probe into its Western Asset Management business sparked a historic $37B exodus.

For asset managers, easy experience is key to winning advisors' businesses
For asset managers, easy experience is key to winning advisors' businesses

Beyond returns, asset managers have to elevate their relationship with digital applications and a multichannel strategy, says JD Power.

Why retaining HNW clients ultimately comes down to one basic thing
Why retaining HNW clients ultimately comes down to one basic thing

New survey finds varied levels of loyalty to advisors by generation.

Stocks drop as investors digest Microsoft, Meta earnings
Stocks drop as investors digest Microsoft, Meta earnings

Busy day for results, key data give markets concerns.

SPONSORED Out with the old and in with the new: a 50% private markets portfolio

A great man died recently, but this did not make headlines. In fact, it barely even made the news. Maybe it’s because many have already mourned the departure of his greatest legacy: the 60/40 portfolio.

SPONSORED Destiny Wealth Partners: RIA Team of the Year shares keys to success

Discover the award-winning strategies behind Destiny Wealth Partners' client-centric approach.