July 26, 2006
Regulation is still the flavor of the season
I know this is getting a bit frayed, but since it is the hot topic of the day, I have no option but to report on the latest happenings on the regulation front. Securities and Exchange Commission chairman Christopher Cox feels that hedge fund regulation is inadequate" and that Congress may need to demand more oversight of the $1.2 trillion industry. Boston.com reports:
Regulators are becoming more concerned about hedge funds because of the power they wield in financial markets and the growing number of frauds. As the industry's assets doubled in the past five years, funds including Bayou Group, Manhattan Investment Fund, Lancer Group, and Philadelphia Alternative Asset Management collapsed, saddling investors with losses.
Read more: SEC chief calls hedge fund rules `inadequate'
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