Hedge Funds On Agenda At Marathon SEC Meeting

Dec 8 2006 | 2:55pm ET

The Securities and Exchange Commission will consider a pair of hedge fund proposals at what is shaping up to be a marathon public meeting on December 13.

The commission was originally scheduled to discuss the proposals—an increase in the minimum assets required to invest in hedge funds, currently $1 million, and a new, tighter anti-fraud rule—at its meeting on Monday, but dropped the items from the agenda, saying more time was needed to clarify language in the proposals.

It’s shaping up to be a busy meeting, which Chairman Christopher Cox says will be “one of the longest commission open meetings in quite a while.” The SEC is also set to consider a controversial exemption of banks from broker requirements, deregistration of foreign companies, streamlining financial reports, internet proxy voting, and the much-debated mutual fund independent directors requirement.

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