According to the Associated Press, lawmakers in Connecticut, may be gearing up to pass hedge fund legislation in their state. Last year, the state legislature failed to pass a bill which would have required hedge funds and private equity firms to disclose certain conflicts of interest. Some state lawmakers are looking to use that bill as a starting point for new hedge fund legislation.
Hedge fund regulation on the federal seems to be stuck in the Senate right now. Although the house has already passed their financial reform bill (which includes hedge fund registration), the Senate version seems to be stuck. It looks like some Connecticut legislators have gotten fed up with the slow progress and may take their own steps towards regulation for hedge funds in the state.
