Hedge Clauses and the SEC’s Position
Hedge clauses are provisions in investment advisory agreements that aim to limit an adviser’s liability for certain actions or outcomes. The U.S. Securities and Exchange Commission (the “SEC”) has expressed the position that such clauses can mislead clients into thinking they cannot exercise their legal rights and
The Securities and Exchange Commission (the “SEC”) recently adopted Rule 13f-2 and Form SHO under the Securities Exchange Act of 1934 (the “Exchange Act”), implementing provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act. These new regulations are intended to enhance transparency in short selling and introduce significant changes