Suit over hedge fund registration on, but industry isn't holding its breath; With deadline looming, some say manager is waging a losing war.(News)

Investment News, October, 2005

Byline: Jeff Benjamin DETROIT - Against all odds, Phillip Goldstein is pushing ahead with a lawsuit challenging the Securities and Exchange Commission's authority to require hedge fund managers to register as investment advisers. Mr. Goldstein, manager of the $73 million hedge fund Opportunity Partners LP, is set to square off against the SEC Dec.

9 over the controversial rule change that will shed more light on the $1 trillion hedge fund industry. The case, which comes as many hedge funds managers are bracing for the Feb. 1 registration deadline, is being closely watched for its potential to stop the SEC in its tracks. "I feel like we have a good case - a very good case,'' said Mr. Goldstein, who sued the SEC in December 2004. The...

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