By Jeffrey R. Blumberg, David M. Matteson and Joseph H. Nesler
After spending two days sitting in on the SEC Hedge Fund Roundtable, all we can say for certain is that something is going to change – what exactly the change (or changes) will be is still unclear. While we doubt there will be wholesale changes to our industry, we do think there will be at least a handful of significant changes considered, and possibly even proposed and adopted.
The one change we are almost certain will be proposed is to adjust the "accredited investor" standard for individuals who wish to invest in hedge funds. The specifics of the new standard are unknown, but one SEC staffer who spoke at the Roundtable indicated that he’d like to see the current thresholds (generally, $200,000 in annual gross income or $1 million in net worth) doubled. While this may pose a problem for many smaller, start-up hedge fund managers trying to get their funds off of the ground, it is arguably appropriate in light of
