Fears about the costs and effects of SEC registration may
A recent survey conducted by the Investment Counsel
Association of America and the National Regulatory Services
indicated that 601 hedge fund advisors are now registered with
the Securities and Exchange Commission, a 15% increase from
last year. This doesn't mean that hedge funds are anticipating
regulation. Most aren't. And most are only registering because
they have to, meaning they no longer meet exemption rules.
However, the increase in registration does prove that the
process is pretty painless and all the signs are that it is
going to get easier and cheaper with a number of firms offering
registration and compliance packages.
Among the funds that have recently registered is Chilton
Investment Company, which dispelled the industry myth that it
was managing in excess of $5 billion in assets. According to
the firm's filing it manages only $2.7 billion. Richard...