US senator "concerned" about SEC's hedge fund push
WASHINGTON, July 15 (Reuters) - The chairman of the Senate committee (Richard Shelby - R-Ala) that oversees the U.S. Securities and Exchange Commission said on Thursday he is "concerned" about the agency's approach to regulating hedge funds.
The SEC voted 3-2 on Wednesday to propose hedge fund advisers register with the SEC, a proposal opposed by the $850 billion hedge fund industry but supported strongly by SEC Chairman William Donaldson.
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