SEC Goes To Court To Defend Hedge Fund Rule

Law360, New York (December 9, 2005, 12:00 AM EST) -- A challenge to its proposed regulation of hedge funds has landed the Securities and Exchange Commission in court, where it will defend a rule that will require hedge fund managers to register with the agency and subject themselves to inspection and regulation.

The suit, filed by Phillip Goldstein of Opportunity Partners LLC in the U.S. Court of Appeals for the District of Columbia, petitions for review of the SEC rule.

Goldstein, a hedge fund manager, claims that in requiring hedge fund managers to register with the...
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