Hedge Funds Ads Will Only Harm the Greedy
The U.S. Securities and Exchange Commission ruled yesterday that it isno longer illegal for hedge funds and other private investment firms to solicit the public for capital by advertising. Contrary to some scaremongers, this is a welcome development. (It is also an inevitable consequence of the so-called JOBS Act, which is supposed to make it easier for smaller companies to raise money by reducing what they need to disclose to prospective investors.)
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