Senate Banking Committee To Hold Hedge Fund Hearing

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The Senate banking committee, which has oversees the SEC, announced yesterday that it will hold a hearing on July 25th to discuss hedge fund regulation. There are no details yet available and the witness list has not yet been published.
We’re told, however, that the hearing will be focused on regulatory oversight in light of last month’s federal appeals court ruling throwing out an SEC rule that required hedge fund managers to register as investment advisers and yield to SEC inspections. Which is to say, the hearings are expected to be less explosive than the hedge fund hearing held by the judiciary committee.
As of earlier today, the Banking committee has not called SEC whistleblower Gary Aguirre to appear as a witness, according to Aguirre’s attorneys. Aguirre made a splash at the judiciary committee hearing with allegations that he had been fired for attempting to subpoena a senior Wall Streeter during an investigation in alleged insider trading at Pequot Capital.
Senate committee sets hearing on hedge funds [Reuters on ABCNews.Com]

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