Hedge Fund Adviser Registration Arrives

I've commented before on the new hedge fund manager rules. I thought that they were a mistake and premised on questionable logic and facts. The blog entry with links to the earlier commentary is here

Now that the registration deadline has arrived, there are approximately 1,800 managers that have registered - out of the 8,000 that are believed to exist.

Truth on the Market - the new blog from a group of professors, takes a look at the new registrations here and here, and asks a great question:

...if the SEC truly believes additional regulation is warranted and adviser registration is the right answer, why did they draft rules that appear to result in less than 25% of hedge fund advisers registering?

Hmm, why indeed.

And the SEC now plans to inspect the high risk managers once every three years? And the purpose of this bureaucratic nonsense was that oversight would help prevent fraud? Sure, after it has gone on for three years........sheesh.