Stay In Ruling Means Business As Usual For SEC, Funds

Law360, New York (June 28, 2006, 12:00 AM EDT) -- Although an appeals court decision vacated the U.S. Securities and Exchange Commission’s hedge fund rule, hedge fund managers looking to deregister with the SEC will have to remain under the agency’s thumb for a little longer.

The U.S. Court of Appeals for the District of Columbia Circuit vacated the rule last week, calling the SEC’s requirements for registration “arbitrary.” But the court also immediately stayed the ruling, giving the agency 45 days to determine whether or not it would file an appeal.

A delay in the...
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