Rep. Paul Kanjorski, D-Pa., said a House bill that would require hedge funds and other private funds to register with the Securities and Exchange Commission is the right move. "In my current view, hedge funds deserve a narrowly tailored regulatory treatment," Kanjorski said. "If they want to continue to swim in our capital markets, they must at a minimum, fill out forms and get an annual pool pass. In this regard, congressmen [Mike] Capuano and [Mike] Castle have drafted a good bill to accomplish the goal of registering hedge fund investment advisers."

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