Connecticut State Legislators Target Hedge Funds

Posted on March 4, 2009 by Susan Mangiero

  

 Following up on "Hedge Fund Haven Gets Double Whammy from Pension Plan and New Regulations" (March 2, 2009), here are links to the three regulations being considered by the State of Connecticut General Assembly:

Here are a few interesting questions.

  • If the Nutmeg State implements and enforces new hedge fund laws, anticipating that investors are now protected, how will they explain any future losses?
  • How will legislators seek to protect investors in the case of hedge fund look alikes? Federal Reserve Chairman Ben Bernanke referred to AIG as an "irresponsible" hedge fund. (See "AIG An 'Irresponsible' Hedge Fund, Regulators Say," FINalternatives, March 4, 2009.) A quick read of the aforementioned state proposals would suggest that these proposed laws will not apply to this insurance giant or other non hedge fund "hedge fund."
  • In the event that the U.S. Congress and non-U.S. regulators each create their own set of rules and they conflict with one another, which ones trump?
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