SEC Scrutiny Of Hedge Fund Statements

Law360, New York (March 17, 2009, 12:00 AM EDT) -- Recent developments provide insight into the ways the SEC may employ new Rule 206(4)-8 in bringing certain enforcement actions against investment advisers.

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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.