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.
1 comment:
Congratulations to Stillwater. I hope others will follow your example.
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