SEC: Hedge funds must open up their books

WASHINGTON (MarketWatch) — Hedge-fund and private-equity managers will have to register and open their books to surprise examinations by the Securities and Exchange Commission

http://www.marketwatch.com/story/sec-hedge-funds-must-open-up-their-books-2010-11-19

 

Advance notice will be given before any "surprise" audits.

 

You are nitpicking. In the context, "surprise" probably means the audits won't be regular.

"Surprised" by advance notice. That kind of thing...

 

there's a foreign fund exemption. feeders are going to become very popular.

 

Madoff, the sequel and the trilogy coming soon!