SEC to consider hedge regs at meeting

Date: Tuesday, November 28, 2006
Author: Riva Froymovich, InvestmentNews.com

The U.S. Securities and Exchange Commission will consider two proposals on hedge fund regulation in a public meeting on Monday, Dec. 4.

The regulator will consider revising "accredited investors" status, according to an SEC statement, or increasing the minimum net worth necessary to invest in hedge funds to address the regulator's concern that investors with relatively modest incomes are using hedge funds. The other proposal seeks to curb hedge fund advisers, or pooled investment vehicles, from making false or misleading statements, the announcement said.

Also on the agenda, the SEC will decide whether to approve the Public Company Accounting Oversight Board budget and the annual accounting fees of the Sarbanes-Oxley Act of 2002.

In addition, it will look at possible changes to short-selling and market manipulation rules for initial public offerings.