the controversial hedge fund registration rule that dissipates our scarce examination resources and does not add to our enforcement authority
As many commentators said (myself included, here) the SEC did not need to register hedge fund managers, the rule would not add anything to enforcement goals, and the SEC can't possibly review all of the managers anyway.
The speaker? None other than SEC Commissioner Atkins.
So what did we accomplish other than to cost thousands of managers, and tens of thousands of investors, additional expenses?
