Reps. Patrick McHenry, R-N.C., and Scott Garrett, R-N.J., are demanding that the Securities and Exchange Commission roll back safeguards proposed in the wake of a Jumpstart Our Business Startups Act-mandated removal of prohibition on hedge fund advertising. The lawmakers said in a letter sent to Mary Jo White, head of the SEC, that the safeguards force companies to "surmount additional regulatory hurdles and shoulder increased liabilities."

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