The hedge fund industry got a reminder from former U.S. Senator John Breaux (D-Louisiana) that the days of flying beneath the regulatory radar screen are over and that the industry needs to do abetter job of getting out ahead of important regulatory matters.
Mr. Breaux, who retired from the Senate in 2005 and is now senior counsel at the Washington law firm of Patton Boggs LLP, was the keynote luncheon speaker in Key Biscayne, Fla., where the Managed Funds Association has gathered this week for its annual networking conference.
“At a certain point (in an industry’s evolution) it can no longer have the attitude that it’s good to be under the radar,†he told an audience of more than 500 attendees.
