SEC Offers Guidance For Hedge Fund Advisors

Law360, New York (August 11, 2006, 12:00 AM EDT) -- In response to a request from the American Bar Association, the U.S. Securities and Exchange Commission has issued additional guidance for hedge fund managers in the wake of an appeals court ruling that overturned the agency’s hedge fund regulations.

The SEC’s Division of Investment Mangement issued a no-action letter clarifying which regulatory policies and protections still apply to hedge fund managers, both those who have registered with the agency and those who have not.

The agency confirmed that its hedge fund rule does not specifically apply...
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