Some industry players are taking the latest moves by California’s Department of Corporations as a sign that the state may be backing away from its controversial plan to require registration of all hedge funds with offices in the state. The agency extended the public comment period, originally due to close in November, to the end of this month and has decided not to hold a public hearing on the matter.
The office of Preston DuFauchard, the department’s sole commissioner, says no hearing will be called because none was requested, and the extension of the public comment period is intended to gather more information. One source of that information will be the findings of two...