Hedge Funds

Legal challenge to SEC registration gets court date


A lawsuit filed by Philip Goldstein and his activist hedge fund Opportunity Partners has moved closer to its goal of legally compelling the Securities and Exchange Commission to back away from mandating hedge fund advisor registration.

The firm's suit received a court date from the U.S. Court of Appeals for the District of Columbia, which has set a hearing for December 9. Hedge fund advisors with assets over $30 million serving more than 14 clients are currently required to register by February 2006 as per SEC mandate.

Goldstein has challenged that mandate, arguing that the SEC has exceeded