July 18, 2006

Senate committee sets hearing on hedge funds

WASHINGTON (Reuters) - The U.S. Senate Banking Committee
said on Tuesday it will hold a hearing on July 25 to discuss
the regulation of hedge funds.

The committee, which oversees the Securities and Exchange
Commission, said a list of witnesses for the session would be
announced at a later date.

A federal appeals court last month threw out an SEC rule
adopted in 2004 that required most U.S. hedge fund advisers to
register with the investor protection agency and submit to
occasional inspections.

Some Democrats in the House of Representatives have
introduced a bill to revive efforts to tighten government
oversight of the hedge fund industry.