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WASHINGTON (AP) - Increased vigilance, not new government rules, is the best way to handle risks in the trillion dollar hedge fund industry, the Bush administration and regulators said Thursday.
Officials put forward guidelines they said should be followed by fund investors and institutions such as banks and brokerage houses that do business with the funds.
The guidelines, said Treasury Secretary Henry M. Paulson, "should serve as a foundation to enhance vigilance and market discipline further, which will strengthen investor protection and guard against systemic risk."
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