South Florida , The Business Journal: SEC acts on hedge fund popularity
Friday, July 23, 2004

Hedge funds aren't just for the Porsche and Rolls-Royce set anymore, a fact that's catching the eye of regulators.

The SEC is concerned about growing risks as some hedge funds allow in investors with income as little as $200,000 - $300,000 for a couple - or net worth as low as $1 million.

On July 14, the SEC commissioners voted 3-2 to issue proposed rules that would require hedge fund managers to register and be subject to SEC review if they have offices in the United States.

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