S.E.C. Chairman Christopher Cox called Tuesday for “emergency” steps to reinstate parts of a rule that required hedge funds to register with the agency after an appeals court threw out the rule last month.
Mr. Cox, told a Senate panel on Tuesday that the regulatory framework governing hedge funds was inadequate, but he declined to ask Congress for additional authority to police the industry.
Instead, Mr. Cox told the Senate Banking Committee that he would ask the commission to adopt measures to regain some of the authority it lost a month ago, when a federal appeals court ruled that the S.E.C. could not require hedge funds to register.