Since June 2002, the staff of the Securities and Exchange Commission has been investigating various aspects of hedge fund operations through a process of site visits and document review that so far has involved more than 60 fund managers and more than 600 funds. On May 14 and 15, 2003, the SEC held a Roundtable on hedge funds at the Commission's headquarters in Washington, DC. To read Friedman Kaplan's memorandum on the Roundtable, click here.