Proposed SEC rules that would prevent some small investors from participating in burgeoning hedge funds, while forswearing any regulation of the funds' operations, are spurring debate. Some argue that the proposal doesn't protect against a high-profile hedge fund collapse: "These steps ... don't begin to meet the national need" concerning hedge fund oversight, says Columbia Law School professor Harvey Goldschmid, a former SEC commissioner. But others say the limits are unnecessarily restrictive.
March 02, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Comments are due by March 9 on proposed Securities and Exchange Commission rules that would prevent some small investors from participating in burgeoning hedge funds, while forswearing any regulation of the funds’ operations.
Some New York attorneys argue that the SEC’s proposal does not address the need to prevent potential calamity to individual investors and the economy that could result from a high-profile hedge fund collapse.
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