Hedge Funds

SEC's Cox seeks emergency hedge fund rules

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U.S. Securities and Exchange Commission chairman Christopher Cox said this week that emergency rules are necessary to fill some of the gaps created in the SEC's ability to regulate hedge funds in the wake of the recent appeals court decision that overturned hedge fund registration.

Speaking at a hearing of the Senate Banking Committee on Tuesday, Cox stopped short of asking Congress to write new legislation regulating hedge funds, saying "I can state right now that the regulatory regime is inadequate. But it's still an open question whether we need additional authority."

Several bills have been proposed to address