Regulating Conn. Private Investment Funds

Law360, New York (March 19, 2009, 12:00 AM ET) -- Connecticut lawmakers recently proposed three bills concerning hedge funds and other private investment funds, which were referred to the Banks Committee of the Connecticut General Assembly.

The proposed bills would, among other things: set minimum financial qualification requirements for investors in private investment funds; mandate certain disclosures to investors and prospective investors of private investment funds; and require private investment funds established or conducting business in Connecticut to be licensed with the Connecticut Banking Commissioner.

If the proposed bills are passed, they will become effective Oct....
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