Just three weeks after the D.C. Circuit struck down the SEC’s rule requiring hedge-fund registration, 10 managers have filed papers to deregister, reports the WSJ.
It’s not clear why they’re deregistering; in some cases several of the funds are shutting down. Yet, says the Journal, the news “signals that the SEC may need to move quickly lest other managers deregister, further weakening the agency’s grasp on the booming hedge-fund industry.” Or not: Many industry watchers, including some within the SEC, believe that further oversight of hedge funds is unnecessary.
Thursday, July 20, 2006
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