SEC Chief: 150 Active Hedge Fund Probes

Apr 28 2009 | 2:05am ET

The Securities and Exchange Commission has about 150 active hedge fund investigations, the agency’s chairman said yesterday.

Speaking at a conference of business journalists in Denver, Mary Schapiro said that at least some of the hedge fund investigations are looking into potential Ponzi schemes, performance smoothing and misappropriations. In addition to the hedge fund probes, she saidthe SEC has more than 50 other active probes involving derivatives, and about two dozen municipal securities probes.

Schapiro, who took the helm at the SEC in January, also said she may ask Congress to give the regulator greater powers over hedge funds.

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