UPDATE 1-Cox says SEC reviewing hedge funds' valuations

(Reuters) - WASHINGTON, June 26 - U.S. Securities and
Exchange Commission Chairman Christopher Cox said on Tuesday
that the agency is reviewing valuation methods hedge funds use
for their assets, a central issue in the liquidity problems of
two hedge funds managed by Bear Stearns Cos. Inc. .




"We are going to further review, using the SEC staff, the
valuation and other issues that managers for these funds have,"
Cox told the House Financial Services Committee in response to
a lawmaker's question.


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