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From Kirsten Bischoff, Opalesque New York:

On Tuesday, the Obama administration released the regulatory outline it hopes will return the US to a culture of responsibility. While the proposal is very broad reaching, it clearly targets hedge funds and outlines the way in which the administration will draw them further under the regulatory umbrella of a stronger SEC.

The President’s speech following the release of the regulatory proposal also made this point clear as he stated, “We've seen that structural deficiencies allow some companies to shop for the regulator of their choice – and others, like hedge funds, to operate outside the regulatory system altogether.” (Full text of the President’s address may be found here: Source).

“If you look at this whole proposal, it is an act that will radically change the investment landscape for hedge fund investors and managers,” Mitchell Nichter, partner in the Investment Management Practice at international law firm Paul Hastings told Opalesque.

While several hedge fund organizations voiced their approval of the positive nature of the regulation, they reserved space to remind officials that hedge funds have not been proven to be the reason for the financial problems the market has faced over the past months.

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