Hedge Fund Group Wants Safe Harbor Under Advertising Rule

Law360, New York (September 13, 2012, 2:56 PM EDT) -- A nationwide hedge fund lobbying group on Thursday asked U.S. regulators to create a safe harbor provision clearly stating how funds should verify the credentials of investor-clients to whom they can now advertise, saying new proposed rules left their obligations unclear.

In a letter to the U.S. Securities and Exchange Commission, Hedge Fund Association President Mitch Hackles and Chairman Richard Heller asked SEC Secretary Elizabeth Murphy to clearly define safe harbor provisions for hedge funds receiving funds from investors to whom they can now advertise under...
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