Hedge Funds See Holes in Dodd-Frank Rulemaking

Rulemaking under the US Dodd-Frank Wall Street Reform and Consumer Protection Act that aims to tighten restrictions on foreign fund investment in the US leaves some holes in its specifics, according to Manhattan-based hedge fund manager, Viking Global Investors. The Dodd-Frank Act changes the exemption for private investment advisors, namely hedge funds, so that the 15 clients or less threshold under which foreign advisors need not register with the US Securities and Exchange Commission (SEC)