Hedge fund awaits disclosure ruling

Activist hedge fund manager Phillip Goldstein still is waiting to hear whether the Securities and Exchange Commission will exempt his firm from portfolio disclosure rules. Mr. Goldstein, who won a legal battle over the agency’s hedge fund registration rule last year, argues that his stock holdings are essentially trade secrets.

Activist hedge fund manager Phillip Goldstein still is waiting to hear whether the Securities and Exchange Commission will exempt his firm from portfolio disclosure rules. Mr. Goldstein, who won a legal battle over the agency’s hedge fund registration rule last year, argues 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 published report, Mr. Goldstein has said that if he fails to get an exemption, he will challenge the SEC rule in court.