Hedge funds that held restricted securities (not freely salable to the public) got killed.

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Under SEC rules, firm are restricted from engaging in municipal securities business with an issuer for two years after any contribution has been made to the official.

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Money-market funds are a specialized kind of mutual fund that is restricted to investing in very short-term securities with little chance of default.

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The Act also restricted commercial banks from being affiliated with any company that underwrote or dealt in securities.

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The yuan is not convertible, foreign banks and other financial institutions are heavily restricted, the country's legal system is, to put it mildly, inadequate, and securities regulation is a joke.

ECONOMIST: Clouds over Hong Kong