Knuckling down

Hedge funds

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The political climate in the US may have shifted in favour of Christopher Cox, chairman of the Securities and Exchange Commission (SEC) and a leading advocate of closer oversight of the lightly regulated hedge fund industry. In mid-December, the SEC board voted to propose a rule raising the minimum personal wealth for hedge fund investors from $1 million to $2.5 million, reducing the universe of eligible clients for hedge funds.

This comes six months after the District of Columbia appeals court

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