The Lawyer – Wachtell Lipton Rosen & Katz has joined the throng of vocal opposition to a recent ruling rejecting the Securities and Exchange Commission’s (SEC) rule requiring hedge fund advisers to register under the Investment Advisers Act.<\/p>\n
The New York heavyweight, which is known for its anti-activist hedge fund stance, voiced its discontent at the ruling in a paper calling for increased regulation of the hedge fund industry to control activist investors.<\/p>\n
The firm states: “The transparency and restraint created by the hedge fund rule makes for a fairer fight when hedge funds attack. At this time public companies can only hope that some form of hedge fund regulation persists.”<\/p>\n
The statement follows Wachtell founding partner Martin Lipton’s comments to The New York Times earlier this year in which he called hedge fund activism “a terrible thing for corporate America”.<\/p>\n