The SEC speaks: What is the regulator saying to hedge funds?

HFMWeek outlines five areas of focus for the US alternatives sector from the recent Washington DC conference

John Shad, the blunt-talking SEC chairman under Ronald Reagan, used to tell a joke to his staff after his appointment in 1981. “Two regulators were in a car that just drove off a cliff,” he said. “It’s so sad. There were three empty seats.” Shad was hired with the explicit