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Conn. Senate votes to regulate hedge funds

Charleston Daily Mail – The Connecticut Senate has voted to require hedge funds and private equity funds located in the state and doing business here to disclose certain conflicts of interest to customers.

Supporters of the bill, which passed on a 24-12, party-line vote, say it’s needed because Congress hasn’t done enough to protect consumers and regulate the hedge fund industry.

Sen. Robert Duff, a Norwalk Democrat, says if Congress passes similar legislation before Dec. 31, the Connecticut bill would no longer be needed.

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