Donaldson: Hedge fund eligibility rule won't address real issues

01/24/2007 | Bloomberg

As international concern builds over the regulation of the $1.3 trillion hedge fund industry, SEC officials, financial advisers and attorneys will be reviewing whether new investment eligibility thresholds are the answer. The SEC has proposed that individuals must have at least $2.5 million of investments to put money in a hedge fund, but former SEC Chairman William Donaldson says the rule doesn't address the rapid growth of hedge funds or the lack of knowledge on the part of regulators.

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