Phil Goldstein Update

Jun 11th, 2008 | Filed under: Hedge Fund Regulation | By:
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Fortune released a great piece on hedge fund “iconoclast” Phil Goldstein this morning.  Like a big box store, the Goldstein saga has something for everyone.  Just when you thought he was done causing headaches for regulators and government officials, he emerges to launch new attacks on the institutions and regulations that he sees as both archaic and illegal.

The latest battle is over his First Amendment right to communicate with the public (see previous posting).  Current US regulations prevent investors under a certain wealth threshold from investing in unregulated investment funds (collectively “hedge funds” – although that’s a misnomer).  Goldstein contends that he has the right to free speech however, even if that speech is about his hedge fund.  Further, this right to free speech, argues Goldstein, is not in conflict with the SEC’s rules barring any particular group from actually investing in hedge funds.  Reports Fortune:


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