Summary
The hedge fund industry fought tooth and nail against the Securities and Exchange Commission's (SEC) plan to register hedge fund advisors. In the end they lost the fight, and since then the Managed Fund Association (MFA) has aggressively moved ahead into the new world of registration to ensure that new regulations do not become onerous. Now with the court ruling in the Goldstein case throwing out the Hedge Fund Registration rule and the SEC deciding not to appeal it, the industry is at a strange crossroads. Judging from the response to the ruling, all those additional regulatory possibilities are back on the table. And while the registration rule has been struck down, few in the industry believe it has had no impact. The SEC began a process of examining hedge funds several years ago and the Goldstein decision is seen as just one step in that process.
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Extract
Hedge Fund Regulation: What Now?
The hedge fund industry fought tooth and nail against the Securities and Exchange Commission's (SEC) plan to register hedge fund advisors. In the end they lost the fight, and since then the Managed Funds Association (MFA) has aggressively moved ahead into the new world of registration to ensure that new regulations do not become onerous. It seemed to arrive at a level of comfort and acceptance of the rule.
Now with the court ruling in the Goldstein case throwing out the Hedge Fund Registration rule and the SEC deciding not to appeal it, the industry is at a strange crossroads. Remember that despite energetic ...See the full content of this document
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