SEC to reconsider hedge fund rules

WASHINGTON (Reuters) -- The Securities and Exchange Commission has scheduled a public meeting for Monday, Dec. 4, to consider two measures dealing with hedge funds.

One proposal to be considered would deal with the minimum net worth that an investor must possess to be allowed to invest in hedge funds, according to an SEC statement.

As reported by Reuters in September, the SEC has been preparing a measure that would raise the minimum, known as the accredited investor standard, amid concern that too many investors of limited means are putting money in hedge funds.

Another measure would tighten up the antifraud statute dealing with hedge funds - the popular, lightly policed capital pools that have doubled their assets under management to $1.3 trillion in the past five years.

The SEC said it will also consider at the Dec. 4 meeting whether to approve the annual budget and support fees of the Public Company Accounting Oversight Board, which regulates the corporate auditing industry.

In addition, the SEC said it will consider proposing changes to rules on short-selling of securities and rules against market manipulation in initial public offerings.

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