BankNet 360 – A small, but growing, number of hedge funds are filing requests with the Securities and Exchange Commission to de-register themselves.
So far, 10 of the 2,500 registered funds have submitted their de-registration requests. The moves follow a court decision last month that tossed aside the SEC’s registration rule, which went intoeffect in February.
Congress has acted quickly, proposing legislation that would grant the SEC the necessary authority to regulate hedge funds. Hearings are scheduled to discuss the proposed rules.
