The SEC estimates there are 8,800 hedge funds operating in the US but, because they are usually incorporated offshore, it is impossible to be certain. Last month an appeal court threw out a rule requiring funds with more than 15 clients, or $30m, to register with the regulator. Ruling on a lawsuit brought by Philip Goldstein, the manager of the hedge fund Opportunity Partners, the court said the requirement was arbitrary.
Continue reading " SEC calls for tighter rules on hedge funds"
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