TheStreet.com – For hedge funds that must register with the Securities and Exchange Commission, the deadline is at hand.
While the SEC’s controversial rule mandates registration for most hedge funds by Feb. 1, Monday is effectively the last day to file an application. The deadline to submit a Form ADV has already been pushed back from mid-December, when funds were battling to hit their year-end performance goal.
Registration remains unpopular among hedge funds.
The requirement will impose a heavier burden of compliance for managers and will increase costs. That is not to say that hedge funds are completely unregulated today. For instance, all hedge funds — registered advisers and others — are subject to the SEC’s Anti-Fraud Provisions of the Investment Advisers Act, which, for instance, penalizes false advertising and misrepresentation.
