Monday, June 26, 2006

U.S. appeals court rejects SEC rule reining in hedge funds

Marcy Gordon, Associated Press

WASHINGTON – In a setback to the Securities and Exchange Commission, a federal appeals court on Friday overturned a rule bringing hedge funds under new supervision by the agency.

The decision by the U.S. Court of Appeals for the District of Columbia Circuit sent the rule – which bitterly divided the five-member SEC when it was adopted in October 2004 – back to the agency to be reviewed.


I think in the aftermath of the Long Term Capital debacle, it is very bad PR to resist SEC regulation.

3 comments:

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Jack Doueck said...

Alice,
I agree. Short sighted by Hedge Funds. We think oversight is appropriate. And we're not just talking the talk. We're walking it, too. My firm, Stillwater Capital Partners, has registered hedge funds that were audited last summer. Very thorough, and appropriate.
Doing anything different is sending wrong msg. to investors.
Jack Doueck

Alice said...

Congratulations to Stillwater. I hope others will follow your example.