SEC sets up hedge fund unit and market intelligence division

WASHINGTON, DC – The US Securities and Exchange Commission (SEC) has created a new hedge fund unit within its enforcement division, to police funds and prevent another scandal on the scale of Bernard Madoff’s $65 billion Ponzi scheme fraud. The asset management unit will form part of a strengthened enforcement division. It will report to chief enforcer Robert Khuzami, who has named Bruce Karpati and Robert Kaplan as co-heads of the new unit. Karpati currently heads the agency&rsqu