Forbes – One aspect of the Dodd-Frank financial services reform law that is only now beginning to attract notice in the mainstream press is the fact that each individual state will soon be responsible for licensing, monitoring and overseeing all hedge funds and other alternative investment management firms with assets under $100 million.
This represents a significant increase in the responsibility (and jurisdiction) of state securities departments and law enforcement officials. Previously, the bar was set at $25 million. States were only responsible for firms below that amount of assets.
