Pleasantville hedge fund manager challenges new rules

The Journal News.com – Phillip Goldstein likes to think of himself as a bulldog willing to wage a fight.

For 13 years, those battles have generally been against corporate America through his $90 million hedge fund company with four employees — named, appropriately enough, Bulldog Investors — that buys stakes in underperforming companies and presses management for changes.

But lately, this bulldog from Pleasantville has generated his share of headlines for a courtroom fight against another powerful foe — Uncle Sam.

Goldstein, 61, has pursued a federal lawsuit in Washington for more than a year challenging the Securities and Exchange Commission over new regulations governing the hedge fund industry. Those new rules, which went into effect Wednesday, require that advisers to hedge funds with assets of more than $30 million register with the SEC, beef up record-keeping and open themselves up to potential SEC inspections

Read Complete Article

About the HedgeCo News Team

The Hedge Fund News Team stays on top of breaking news in the Hedge Fund industry on an hourly basis. Signup to HedgeCo.Net to recieve Daily or Weekly news updates from our team.
This entry was posted in Syndicated. Bookmark the permalink.

Comments are closed.