SEC Chairman Cox testified in response to the decision by the DC Court of Appeals to overturn the hedge fund manager registration rule. In his testimony  Chairman Cox provides recommendations on various ways to continue to regulate hedge funds, including the adoption of a new anti-fraud rule and the full legal restoration of several rules that were effectively negated by the Court's ruling. Chairman Cox makes it clear that while he feels hedge fund regulation by the SEC is inadequate, he will not interfere with current investment strategies.