Reuters – A Democratic member of the Securities and Exchange Commission called for stricter supervision of hedge funds, particularly large funds that have an impact on the broader financial markets.

Luis Aguilar said the market turmoil of the past year provides evidence that government oversight of hedge funds has not kept pace with the large role they play in stocks, debt and other assets. The fundamental bargain struck some 60 years ago — that hedge funds should be left alone because they only transact privately with the very rich — may no longer be valid, he added.

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