Hedge fund manager may challenge SEC - again.(Short Interests)

Investment News, September, 2006

Byline: Riva Froymovich Activist hedge fund manager Phillip Goldstein is getting ready to take on the Securities and Exchange Commission once again. Mr. Goldstein, who recently won a legal battle with the SEC over a rule requiring hedge fund managers to register as investment advisers, now plans to ask the commission for an exemption from a rule that forces investment managers with $100 million or more in equity securities to list their holdings.

The disclosure of portfolio holdings in so-called 13F filings compels managers to reveal trade secrets, and compromises their ability to maintain a competitive edge, he said. If the SEC rejects his request, as he expects it will, Mr. Goldstein is prepared to go back to court with the commission. ...

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