The US Chamber of Commerce is considering joining the brewing battle to prevent hedge funds from registering with the SEC, Investors Offshore reports.
The Securities and Exchange Commission, which is spearheading a campaign to regulate hedge funds, became the target of a lawsuit filed in December by Opportunity Partners, a New York-based asset manager.
Opportunity sued the SEC in hopes of blocking the proposed regulation for hedge funds. The US Chamber of Commerce, which is already engaged in a separate battle to overturn newly enacted guidelines requiring mutual fund boards to appoint independent chairmen, is considering drafting a friend of the court brief to support Opportunity.
A senior official at the Chamber recently suggested the brief may not be necessary if the independent chairmen rule is overturned early this year because legal guidelines supporting both regulatory measures are inexorably linked.
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