New Bill Would Mandate Hedge Fund Registration

Law360, New York (May 18, 2007, 12:00 AM EDT) -- Sen. Chuck Grassley (R-Iowa) introduced a bill Tuesday that, if passed, would override a federal appeals court decision that took away the U.S. Securities and Exchange Commission’s authority to regulate the $1.2 trillion hedge fund industry.

The bill, known as the Hedge Fund Registration Act, would require all hedge funds to register with the SEC unless they managed less than $50 million, have fewer than 15 clients, do not hold themselves out to the public as investment advisors, or manage the assets for fewer than 15...
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