WASHINGTON (AP) — Hedge funds would be allowed to advertise to the general public under a proposal put forth Wednesday.
The Securities and Exchange Commission voted 4-1 to seek public comment on the proposal, which would formally lift a ban on hedge funds marketing their investments to a wide audience. The public has 30 days to comment, after which the SEC will likely take a final vote.
Hedge funds still would be required to sell securities only to investors with a net worth of at least $1 million excluding their primary residence.
The change is called for by legislation enacted in March. The law also makes it easier for small startup companies to raise capital without having to comply immediately with a range of SEC reporting rules.
New Jersey Man Slays Child | Human Events
Hickok45 Has Huge Hands! Or Maybe Something Else Is Going On...
Hey, The Supreme Court Might Decide On ‘Assault Weapons’ After All
Ridiculously Hilarious: MSNBC's Mitchell Gets Bad Case of the Vapors Over Cruz Ad Mocking Hillary | RedState
Cartoons by Close to Home
ICYMI: Triumph the Insult Comic Dog ends campus political correctness as we know it
Charlie Daniels speaks the truth about the Columbus machete attack