Portfolio disclosure rule challenged
Activist hedge fund manager Phillip Goldstein has asked the SEC to exempt his firm from portfolio disclosure rules.
Activist hedge fund manager Phillip Goldstein has asked the SEC to exempt his firm from portfolio disclosure rules. Mr. Goldstein, who won a legal battle over the SEC’s hedge fund registration rule last year, argued that his stock holdings are essentially trade secrets. The rule from which he’s seeking exemption requires money managers who oversee more than $100 million in stocks to disclose their portfolio holdings. According to a recently published report, Mr. Goldstein said that if he fails to get an exemption, he will challenge the SEC rule in court.
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