SEC Hedge Fund Regulation

I have been asked to research what the effects of the SEC regulating Hedge Funds would be. Basically I am supposed to find out what the changes are likely to be imposed and how are these going to effect the operations of Hedge Funds. Doing some Google searching I can only find out the why regulation would be good but not what the changes are likely to be. Has anything been put in place or decided with regards to increase SEC regulation. Anybody have any thoughts on what regulation the SEC is likley to put in place.