California drops proposal to register hedge funds

Fri May 9, 2008



California’s Department of Corporations has withdrawn its controversial proposal to require registration of hedge funds with offices or clients in the state.

Introduced in September 2007, the proposal would have re-imposed mandatory registration after the U.S. Securities and Exchange Commission’s attempt to do so was invalidated in 2006 by the so-called Goldstein decision, in which...

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