SEC Scrutiny Of Hedge Fund Statements
The SEC adopted new Rule 206(4)-8 in July 2007, under the Investment Advisers Act of 1940. It did so in response to the Goldstein v. SEC opinion by the U.S. Court of Appeals for the D.C. Circuit, which created uncertainty regarding the obligations that investment advisers to pooled investment vehicles have to the pools’ investors.
The purpose of new Rule 206(4)-8 was to make...
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