Reuters Blogs – The big winner in the Obama administration’s financial regulatory reform package is the beaten-up hedge fund industry.
Hedge funds get a particularly “light touch” when it comes to government oversight in the Obama plan. Essentially, the administration is calling for a reinstatment of a Securities and Exchange Commisison rules that requires managers to register with the agency as investment advisors. The rule was overturned by the federal courts, but many large hedge funds remained registered with the SEC–even though they weren’t required to do so.
