OUR correspondents discuss a deal to rescue Cyprus's economy and a plan to regulate fund managers' pay.
They also were about a fifth of what investors tend to expect from the loosely regulated funds, which are marketed to institutions and the wealthy.
In contrast, the European Parliament voted against banning commission payments last September.So the proposal to regulate fund managers' pay looks bad in principle.
In an interview, Mr. Donaldson also said he expected the agency would soon publish a proposed rule requiring hedge funds, which are lightly regulated funds for well-to-do investors, to register with the commission.
QUESTION FROM DAVID COHEN-TANUGI: Hi Evan, your piece on the 863 Program covered some fascinating aspects of how wind energy is being regulated, funded and deployed in China.
Once they officially declare themselves as candidates, however, election laws heavily regulate fund-raising for, and spending on, anything that could be construed as campaigning, not to mention access to the airwaves.
And building a fence would be preferable to the often-discussed notion of regulating hedge funds, said Kathryn B. McGrath, a lawyer and former federal fund regulator.
While the new reform law requires hedge funds to register with the Securities and Exchange Commission and gives the S.E.C. the power to inspect them, the funds can still skirt nearly all the laws regulating investment funds.
In 1979, an obscure division of the U.S. Department of Labor in charge of regulating pension funds loosened something called the "prudent man rule," enabling funds to invest more aggressively, for higher returns.
The laws regulating such funds are still vague.
