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Hedge fund bill to give SEC registration authority

Guardian Unlimited – A U.S. Senate bill to make the $1.3 trillion hedge fund industry more transparent would give federal regulators the authority to require fund managers to register with the Securities and Exchange Commission, one of the bill’s authors said on Monday.

Earlier this year, Republican Senator Charles Grassley and Democratic Senator Carl Levin introduced the legislation but wording in the bill sowed confusion among hedge fund advisers.

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