The Daily Caveat is written by Michael Thomas, a recovering corporate investigator in the Washington, DC-area.

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5/04/2006
SEC Targets Hedge Funds With Weak Internal Controls
Elizabeth Jacobs, deputy director of the SEC's Office of International Affairs, stated on Wednesday that the agency is keeping its eyes peeled for shenanigans at hedge funds that seem like risky business. The SEC is planning audits every three years for entities that meet the agency's high risk criteria. Thus far the SEC has declined to specifcy their exact standards for laxity.

Check out further details here.

-- MDT
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