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SEC ad rule would favor hedge funds over mutuals

MarketWatch – Imagine a law that required bicyclists to wear helmets but allowed motorcycle riders to zip around with the wind blowing in their hair.

That could be the outcome of an effort to overturn long-standing rules banning hedge funds from advertising, if a pending Securities and Exchange Commission rule passes in its current form. The proposal, stemming from a recent law designed to create new jobs, is open for public comment until Friday. The SEC, which declined to comment on the changes, has said they could be adopted “shortly thereafter.”

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