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Senator Warns SEC on Hedge Funds

Traders Magazine, December 2004

Gregory Bresiger

U. S. Senator John Sununu (R-N.H.) is critical of the Securities and Exchange Commission's recent decision to require hedge fund registration. "First and foremost I am concerned about all these new regulations and the direction it signals from the SEC," according to Sununu, a member of the Senate's Banking, Housing and Urban Affairs Committee. "It does create a bullseye on the industry's back," he added in comments to a recent Securities Industry Association conference. An SEC official, who previously spoke at the conference, defended the commission's decision, arguing, "no one knows much about hedge funds."

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