US lifts ban on fund advertising

Michael Bow
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US REGULATORS yesterday voted to ease an 80-year ban on hedge fund and private equity firms marketing their products, paving the way for a seachange in transparency.

Until yesterday, hedge funds and private equity firms were banned from advertising products to the public, giving rise to criticism both sectors were too secretive.

The Securities and Exchange Commission voted by 4-1 to end the prohibition, which was established after the great depression in 1933.