SEC To Redefine ‘Accredited’ Investor

Nov 10 2006 | 12:42pm ET

The Securities and Exchange Commission is ready to give hedge fund regulation another go.

Chairman Christopher Cox told Bloomberg News that the agency will propose a new hedge fund anti-fraud rule at its Dec. 13 public meeting. The proposal, Cox said, would make it harder to invest in hedge funds.

“We’re going to make it very clear that hedge funds are risky investments that are not for mom and pop by fencing it off with higher standards to accrediting investors,” he said. Cox is reportedly in favor of doubling the minimum asset requirement for hedge fund investors to $2 million.

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