Hedge Funds

Regulation-wary hedge funds scrutinize SEC budget

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Hedge fund groups pondering the likelihood of mandatory registration with the Securities and Exchange Commission are sure to be scrutinizing the fiscal 2005 budget proposal that the regulatory agency recently submitted to Congress. If approved by Congress, the $913 billion budget would tower over the previous year's $791.5 billion budget.

How much of the proposed 15% increase might be used to provide regulatory oversight of U.S. hedge funds remains unclear. An SEC spokesman, John Heine, says the proposal lacks a line-item breakdown of expenditures that would offer any additional insight into potential resources that could be targeted at hedge