Commissioner Roel Campos is urging the Securities and Exchange Commission to “move [hedge fund valuations] to the front burner.” Addressing a Securities Industry Association meeting, Campos said he is pressing the agency to act soon in an effort to reduce faulty valuations, which could wreak havoc on financial markets. He noted that hedge funds “often invest in illiquid or complex assets for which there is no public market, and fund administrators rely on pricing from the fund advisers,” which could result in “obfuscating any clear understanding of the underlying risk.” Campos did try to put the crowd at ease by saying there is no “secret plan” to regulate hedge funds “to my knowledge.” He commented that the SEC’s current “limited framework” is “the right, light touch.” In addition, commenting on recent meetings between the SEC and U.K. securities regulators, Campos said, “We will likely not have an international standard for valuation, but a broad, principle-based situation.”