SEC lifts ban on hedge fund advertising

For the first time, hedge funds will be allowed to advertise to the general public under a rule adopted Wednesday by federal regulators. The Securities and Exchange Commission voted 4-1 to lift a decades-old ban on hedge funds marketing their investments to a wide audience. Hedge funds are still allowed to sell securities only to an exclusive group of investors: those with a net worth of at least $1 million excluding their primary residence, or annual income of more than $200,000 in each of the ...

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