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Regulator fears fraud from hedge-fund ad rules

MarketWatch – A commissioner on the Securities and Exchange Commission warned Thursday that allowing hedge funds to publicly advertise could lead to an increase in fraud.

At issue is a U.S. Securities and Exchange Commission proposal introduced in August to relax rules that have kept hedge funds, private-equity firms and small companies from soliciting to the general public for decades. The proposal is going through a comment period, but hedge-fund advertising is likely to be implemented in 2013.

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