Suit Filed Against SEC Hedge Fund Rule

Hume, Lynn
December 2004
Bond Buyer;12/23/2004, Vol. 350 Issue 32036, p2
Trade Publication
This article reports on the suit filed against the U.S. Security & Exchange Commission's (SEC) Hedge Fund Rule. Opportunity Partners LP, a hedge fund based in Pleasantville, New York, its investment manager, Phillip Goldstein, and its investment adviser, Kimball & Winthrop Inc. filed a lawsuit in a federal court here challenging a recently adopted rule that would require most hedge fund advisers, including municipal bond hedge funds, to register with the commission by February 1, 2006. The suit claims that the SEC had no authority to adopt the rule and that the rule violates the plain language of the Investment Advisers Act of 1940.


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