SEC chair reassures SIA on regs

The jury is still out on just how industry-friendly Christopher Cox will be. At the SIA's annual get together, the new chairman of the Securities and Exchange Commission carefully measured his words. While noting that rules can be counterproductive, he also asserted that the SEC will not rethink every prior regulation. Of particular note, Cox said that the controversial hedge fund registration rule will take effect as planned next February. Meanwhile, the NASD announced that it supports a regulatory partnership with the New York Stock Exchange as a way to cut costs and streamline rules.

> Here's the Associated Press recap.

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