WASHINGTON (CBS.MW) - The Securities and Exchange Commission narrowly approved new rules Tuesday that require hedge funds to register and share information with the agency. The proposal has come under heavy criticism, and a legal challenge by the industry is possible. Hedge funds will have one year to implement the new requirements, which include submitting to examinations by SEC staff.
Is a year the usual time to adhere to reg's? It's more than enough time to cover up/eliminate whatever they want, I would think. Better would have been 3 months for meeting some level of transparency with more to follow.