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The SEC’s new guns

Asset management enforcement co-chief Bruce Karpati lays down the law about insider trading, valuation of illiquid assets, side pocket investigations and expert networks

By Lawrence Delevingne Bruce Karpati: Some portfolio managers may be incentivized to overvalue portfoliosThe new-look Securities and Exchange Commission—belatedly overhauled following the financial crisis and Bernie Madoff scandal—is making headlines for its policing of hedge funds. The investigation of Galleon Group founder Raj Rajaratnam and a slew of insider-trading-related charges,

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