SEC Commissioner Supporting Hedge Fund Regulation

SEC Commissioner Elisse Walt, is supporting greater regulation of US hedge funds, an issue supported by democrats in Congress, particularly after the recent Ponzi scheme involving Bernard Madoff.

"I generally do support that notion (of hedge fund registration)," Walter told Reuters in an interview. "But the devil is in the details. Registration has to be meaningful."

Treasury Secretary Timothy Geithner and SEC Chairman Mary Schapiro also have recently expressed their support for legislation regulating hedge funds and other private pools of capital.

However, given that Madoff's firm was in fact an SEC regulated fund, it is not clear who should have regulating authority nor whether it will be effective.

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