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Fund Manager Tells SEC To Leave His IP Alone

Law360 (December 11, 2006, 12:00 AM EST) -- A hedge fund manager has challenged U.S. regulatory requirements, arguing his portfolio of investments is his intellectual property and therefore shouldn’t be disclosed to the U.S. Securities and Exchange Commission.

U.S. law requires mutual funds and the lightly regulated hedge fund industry to report their investments to the SEC every three months if they have $100 million or more under management.

But outspoken hedge fund manager Phillip Goldstein is challenging the rule, saying the disclosures do nothing to help the SEC in its duties but help...
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