Attorney Robert Bramnik has some good advice if the Securities and Exchange Commission comes calling. Bramnik, a partner at the Philadelphia law firm Duane Morris who specialize in hedge funds, says not to worry much about a surprise visit, as "there is frequently prior notice, either by telephone or letter, advising of the upcoming examination." When the SEC examiner arrives at your door, say Bramnik, "you should always ask if the examination is routine or for cause. If the latter, immediately call your attorney." He said if for some reason, the examiner comes with a search warrant "do not interfere with the search," as the SEC has the right to look at those items listed in the warrant. Bramnik warns that there is no Fifth Amendment privilege against self incrimination as a way of keeping documents from the SEC, so don't try to use it. Incidentally, Financial News reports that the SEC may be following the example of its British counterpart, possibly focusing on the 25 hedge fund managers likely to have the biggest impact on the markets.