Hedge Fund Setback Brings Clamor For Regulation

Law360, New York (September 19, 2006, 12:00 AM EDT) -- News of large losses at one of the country’s largest hedge funds has brought a renewed call for more transparency and disclosure in the industry.

Connecticut Attorney General Richard Blumenthal said Tuesday that was collecting evidence about Greenwich-based Amaranth Advisors LLP, after the company revealed that it had lost more than $3 billion since August.

"We are collecting evidence and reviewing facts relevant to recent hedge fund losses," Blumenthal said. "Particularly problematic are alleged representations made to investors in recent weeks by the management of Amaranth...
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