1/30/2009

The North American Securities Administrators Association asked Congress to give the Securities and Exchange Commission authority to regulate hedge funds in the same way it regulates investment advisers. Without proper regulation, hedge funds have the ability to destabilize the global economy, said the group of state and provincial financial regulators from the U.S., Mexico and Canada. U.S. Treasury Secretary Timothy Geithner and SEC Chairwoman Mary Schapiro said they support the policy.

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