08.06.2011 - Hedge funds with sovereign wealth fund clients could face SEC checks
Hedge funds whose client base includes sovereign wealth funds (SWFs) could find themselves being targeted by the US Securities and Exchange Commission (SEC) for non-compliance with the Foreign Corrupt Practices Act (FCPA). The SEC recently designated SWF employees as government officials for purposes of the FCPA. Such a definition could have major implications for the hedge fund industry...............................................Full Article: Source
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