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Congress closes in on hedge fund rules

Posted on January 30, 2009 4:13 PM
Lawmakers may not agree on an economic stimulus plan, but there certainly appears to be bipartisan support for legislation to regulate hedge funds.

The Hedge Fund Transparency Act, introduced by Sens. Carl Levin, D-Mich., and Charles Grassley, R-Iowa, on Thursday, would compel hedge fund managers to file an annual disclosure form, comply with the Securities and Exchange Commission's record-keeping standards and cooperate with its investigations.

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