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Article: SOVEREIGNS ON THE MARCH: American concerns over sovereign wealth funds.
- Article from:
- Fund Strategy
- Article date:
- February 18, 2008
CopyrightCOPYRIGHT 2008 Centaur Communications Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Sovereign wealth funds raise several law enforcement problems, according to testimony given by Linda Thomsen, the enforcement director of America's Securities and Exchange Commission (SEC), to a Congressional hearing in Washington.
"Government ownership of large investment funds, known as sovereign wealth funds, is not new, but it is a markedly growing trend that raises important issues for policymakers to consider," she told lawmakers at the hearing this month.
Wealth funds, like other investors putting money into the American capital markets, must comply with federal securities law, Thomsen said, including disclosure and anti-fraud provisions. That ...