Hedge funds warn SEC dealer rule is ‘unenforceable’

SEC building in Washington DC — The Securities and Exchange Commission

Sharon Thiruchelvam
19 Jul 2022

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US hedge funds are alarmed that they could be inadvertently hit by two proposed rules from the Securities and Exchange Commission that ostensibly seem to be targeted at non-bank market-makers.

“We have had a number of enquiries from our larger clients in the leveraged relative value hedge fund community who are concerned about getting swept in with both standards,” says a fixed income trading executive at a large US investment bank.

The SEC intends to change the statutory definitions for

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