BUSINESS
06/02/2009 05:12 am ET | Updated May 25, 2011

SEC Chief Wants Power To Regulate Hedge Funds

The U.S. Securities and Exchange Commission should be given authority to regulate what hedge funds can buy and how much money they can borrow to maximize bets because registration falls short of what's needed to police the $1.33 trillion industry, Chairman Mary Schapiro said.

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