CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. SEC Facing Lawsuit From Hedge Fund Manager Over Registration Rule

SEC Facing Lawsuit From Hedge Fund Manager Over Registration Rule

by Glen Shapiro, LawAndTax-News.com, New York

27 December 2004


It emerged last week that the US Securities and Exchange Commission (SEC) is facing legal action brought against it by the manager of the New York-based Opportunity Partners LP hedge fund.

Speaking to Dow Jones Newswires regarding the lawsuit, which was filed last Monday, and seeks to block the SEC's proposed hedge fund registration rule, Phillip Goldstein explained that legal action is "really the only route you can go when you feel that an agency is abusing its authority".

Under the new regulations, narrowly approved by SEC commissioners in October, hedge funds are obliged to register with the securities regulator by February 2006.

In a statement issued last week on behalf of the SEC, the Commission's general counsel, Giovanni Prezioso announced that:

"The Commission carefully complied with its legal obligations in adopting these rules, and we expect to defend them vigorously in court."


To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »