Right on the heels of the cloture vote last night, the Senate passed its Financial Overhaul / Regulatory Reform bill in a 59-39 vote. 4 Republican senators voted for the bill.  As the bill stands now, hedge fund managers with greater than $100 million AUM will need to become registered advisers with the SEC.  The bill still needs to be reconciled with the House version which was passed in December.   A final bill may get to President Obama’s desk by July or sooner.