Hedge Fund Managers Deregister With SEC

Law360, New York (July 20, 2006, 12:00 AM EDT) -- Ten hedge fund managers have said goodbye to the Securities and Exchange Commission, deregistering with the agency less than a month after an appeals court vacated the SEC’s controversial hedge fund rule.

SEC Spokesperson John Heine confirmed the deregistrations, although he said that all of them may not have been directly related to the appeals court decision that overturned the rule.

Funds that chose to deregister include Saranac Capital, once the largest fund registered with the agency. After incurring drastic losses, the fund recently decided to...
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