SEC Commissioner Calls For Hedge Fund Regulation

Jan 28 2009 | 3:06am ET

The drumbeat for hedge fund registation is growing louder every day.

On Monday, it was Luis Aguilar, a commissioner on the Securities and Exchange Commission, adding his voice to the growing chorus. Speaking to the Investment Company Institute’s board of governors meeting, Aguilar implored Congress to give the regulator more powers to regulate hedge funds.

“I urge Congress to close the glaring loopholes in securities regulation,” Aguilar said. “Currently, the SEC is prohibited from exerting jurisdiction over particular financial instruments that seem to fall squarely within the agency’s mission.”

Aguilar, a Democratic commissioner on the five-member SEC, joins new Treasury Secretary Timothy Geithner and SEC Chairman-designate Mary Schapiro in calling for greater oversight of hedge funds.


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