(This article appears courtesy of International Financial Law Review, sign up for a free trial on their site)
Only for the rich
The SEC was given a bloody nose in its efforts to regulate the booming hedge fund sector in 2006 when the US Court of Appeals for the District of Columbia Circuit struck down a rule that would have required most hedge fund advisers (those managing $30 million or more in assets and with 15 or more US clients) to register with the Commission under the Investment Advisers Act of 1940.
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