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

Financial advisors often see clients seeking to retire early; Here's what they tell them
Financial advisors often see clients seeking to retire early; Here's what they tell them

Wealth managers highlight strategies for clients trying to retire before 65 without running out of money.

Robinhood beats Q2 profit estimates as business goes beyond YOLO trading
Robinhood beats Q2 profit estimates as business goes beyond YOLO trading

Shares of the online brokerage jumped as it reported a surge in trading, counting crypto transactions, though analysts remained largely unmoved.

Dimon and Trump talk economy and Fed rates as meetings resume
Dimon and Trump talk economy and Fed rates as meetings resume

President meets with ‘highly overrated globalist’ at the White House.

NASAA moves to let state RIAs use client testimonials, aligning with SEC rule
NASAA moves to let state RIAs use client testimonials, aligning with SEC rule

A new proposal could end the ban on promoting client reviews in states like California and Connecticut, giving state-registered advisors a level playing field with their SEC-registered peers.

Could 401(k) plan participants gain from guided personalization?
Could 401(k) plan participants gain from guided personalization?

Morningstar research data show improved retirement trajectories for self-directors and allocators placed in managed accounts.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.