The SEC's 2004 attempt to require hedge fund adviser registration failed: after the D.C. Circuit vacated the rule in Goldstein v. SEC, the overwhelming majority of private fund advisers that had registered under the 2004 requirements deregistered.
Source quote, verbatim
High- lighting the significant opposition of the private fund industry to the rule, the over- whelming majority of private fund advisers that had registered under the SEC's 2004 registration requirements deregistered after Goldstein.
From
Wulf A. Kaal, The Post Dodd-Frank Act Evolution of the Private Fund Industry Comparative Evidence from 2012 and 2 (2016), I. Private Fund Oversight Under the Dodd-Frank Act, p. 7 https://ssrn.com/abstract=2739479 · source PDF
Cite as
Wulf A. Kaal, The Post Dodd-Frank Act Evolution of the Private Fund Industry Comparative Evidence from 2012 and 2 (2016). SSRN: https://ssrn.com/abstract=2739479
Holds when
SEC rulemaking under the Investment Advisers Act before Dodd-Frank
restateskaal:claim:2732915-008 After the D.C. Circuit vacated the SEC's 2004 hedge fund adviser registration rule in Goldstein v. SEC, the ov...
extendskaal:claim:2150377-006 The SEC's 2004 attempt to reach hedge fund advisers failed as a matter of administrative law: in July 2006 the...
extendskaal:claim:2714974-006 The SEC's 2004 hedge fund adviser registration rule failed in court because the agency lacked authority to def...
restateskaal:claim:2150377-002 The immediate deregistration of hedge fund advisers following Goldstein v. SEC is revealed-preference evidence...
extended_bykaal:claim:2998097-002 The 2004 registration rule failed in court because the term client was not defined in the Investment Advisers ...
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