Anti-fraud rule soon effective
A rule takes effect Sept. 10 that clarifies the SEC’s ability to go after hedge fund advisers who make false or misleading statements to investors.
A rule takes effect Sept. 10 that clarifies the SEC’s ability to go after hedge fund advisers who make false or misleading statements to investors. The new rule ― which also applies to private equity funds, venture capital funds and mutual funds ― makes it illegal for those advisers to defraud, deceive or mislead investors, regardless of whether they are registered under the Advisers Act. For more information, go to http://www.sec.gov/rules/final/2007/ia-2628.pdf
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