Connecticut To Raise Accredited Hedge Fund Investor Standard
Wednesday, March 11, 2009 : PermalinkWest Palm Beach (HedgeCo.net) – The Banks Committee of the Connecticut General Assembly voted yesterday to pass a bill that will raise the minimum financial qualifications for hedge fund investors to $2.5 million, and for institutional investors, $5 million.
If the bill, called "An Act Concerning Hedge Funds" is passed by the Connecticut General Assembly, it may become effective as early as October 1, 2009.
This marks a substantial increase above the minimum investor assets ($1 million) required under existing federal standards, making it harder for hedge fund managers in Connecticut to raise capital.
The Connecticut Bill was one of three bills introduced in mid-February to the legislature for consideration by the Banks Committee of the Connecticut General Assembly. Two other bills cover financial disclosure and licensing requirements, they up for vote in the near future.
Alex Akesson
Editor for HedgeCo.Net HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds
Email: alex@hedgeco.net
Tags: 1-million, 5-million, accredited-investors, assets, banks committee, connecticut general assembly, financial disclosure, financial qualifications, fund investors, hedge-fund-managers, hedgeco, institutional-investors, licensing requirements, palm-beach, substantial increase, three bills
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