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January 03, 2006

Phillip Goldstein’s Suit against SEC Rule on Hedge Funds

Phillip Goldstein is leading a closely watched effort to prevent the Securities and Exchange Commission from extensively expanding regulation of the trillion-dollar hedge-fund industry. He is reportedly contesting to overturn a new rule that would force hedge funds managing more than $25 million to be registered with the agency by February 1 2006 and undergo periodic audits. Latimes reports:

The SEC says it must get a handle on the freewheeling investment pools that are mushrooming in popularity among pension funds, endowments and wealthy individuals. The agency points to a spate of recent hedge-fund frauds, as well as the collective force the funds have on financial markets.

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January 3, 2006 in Regulation | Permalink

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