WASHINGTON (HedgeWorld.com)--The U.S. Securities & Exchange Commission plans in the coming days to release the results of its 15-month investigation of the hedge fund industry, commission spokesman Herb Perone said.
The report likely will touch on whether the SEC should exercise greater regulatory authority over hedge funds and possibly how the commission might do that, Mr. Perone said.
The findings will be the culmination of what SEC Chairman William H. Donaldson has called a "fact-finding mission" to review the operations and practices of hedge funds. As part of that review, the commission examined the records of dozens of hedge fund managers, sent SEC officials out to conduct on-site visits to manager offices and held a two-day round table forum in May at which it heard from fund managers, investors and service providers.
At the close of the forum, Mr. Donaldson said he would ask commission staff members to prepare a report that would include recommendations for possible regulatory or legislative action the SEC might take "to ensure hedge fund investors are adequately protected."