The Hartford Courant – Speaking before an audience stocked with hedge fund managers Wednesday, Connecticut Attorney General Richard Blumenthal called for stepped-up regulation of the hedge fundindustry, which has grown to nearly $1 trillion in assets under management amid some high-profile scandals and collapses.
Blumenthal, in New York City at a hedge fund conference sponsored by Institutional Investor magazine, said states – including Connecticut, where many of the funds are located – “could supplement andbackstop a Securities and Exchange Commission that is already overburdened with enforcement and regulatory responsibilities.”
