State Regulation Of Small Hedge Funds Sparks Worries

Law360, New York (June 23, 2011, 8:15 PM EDT) -- While the new hedge fund registration rules finalized Wednesday by the U.S. Securities and Exchange Commission largely hewed to a proposal floated in the fall, the requirement that state regulators oversee smaller private funds has attorneys and investment advisers nervous.

On Wednesday, the SEC imposed comprehensive reporting requirements for hedge fund, private equity fund and other fund advisers with more than $150 million under management. But investment advisers managing $100 million or less will have to register with state regulators, which has some attorneys wagging their...
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