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SEC hedge fund ad rule no closer to finalization

MarketWatch – A Securities and Exchange Commission proposal that would relax decades-old rules that have kept hedge funds, private equity funds and small businesses from advertising when seeking to raise capital doesn’t appear to be close to finalization.

That’s the take away from an exchange between Rep. Patrick McHenry, Republican of North Carolina, and SEC Commissioner Elisse Walter Wednesday afternoon in a hearing of a House Financial Services subcommittee.

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