Galleon Demonstrates Need for Hedge Fund Disclosure
Wed, Oct 28, 2009
Matthew Goldstein submits:
Simply requiring hedge funds to register as investment advisers with securities regulators is not enough.
Galleon Management, a hedge fund at the center of a major insider trading case, is a case in point. Registration with the Securities and Exchange Commission failed to prevent what federal prosecutors contend was illegal insider trading by the fund’s co-founder.
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