George Soros' Avoidance of Dodd Frank

[boedicca]

This pretty much sums it up: Uber Progressive George Soros is returning investor capital in order to avoid Dodd Frank requirements.

What a steamin' pile of hopenchange!

George Soros, the billionaire hedge-fund manager and philanthropist best known for breaking the Bank of England in 1992, will return capital to investors in order to avoid reporting requirements under the Dodd Frank reform act.

Soros will return money to investors by the end of the year, Bloomberg reported Tuesday, citing two people briefed on the matter. Soros Fund Management will focus on managing assets for his family, according to a letter to the firm's investors. Soros will turn 81 on August 12.

"We wish to express our gratitude to those who chose to invest their capital with Soros Fund Management LLC over the last nearly 40 years," the letter to investors reads, according to the Bloomberg report. "We trust that you have felt well rewarded for your decision over time."

Initial media reports trumpeted the end of Soros' 40-year career as a hedge-fund manager, although the billionaire investor's firm is far from being done. Soros will return less than $1 billion to external investors, a drop in the bucket compared to the firm's total assets of more than $25 billion.

The reason? Under new requirements from the Dodd Frank act, hedge funds are required to register with the Securities and Exchange Commission by March 2012 if the fund continues to manage more than $150 million in assets for outside investors. The new requirements would call for funds to report information about the assets they manage, potential conflicts of interest, and information on investors and employees. The act allows an exemption for what the Commission considers "family office" advisers. ...

Soros Returns Capital, Avoids Dodd Frank - TheStreet

 

[CrusaderFrank]

Where are the calls for Soros to pay his "Fair Share", Comrades?

 

[LongworthMrtha]

Now that Soros will no longer be bothered with the pesky duties of a hedge fund manager, I wonder what his next steps will be? He is afterall a man with interesting hobbies...such as financially supporting agitators throughout the world who support his anti-West, anti-Judeo Christian, mondialistic worldview in dozens of countries. While he was still in the hedge fund business, he managed to plan the toppling of Georgian President Eduard Shevardnadze by training and funding young activists.

In 2006 Soros banked on John Kerry during the presidential election, and he began orchestrating grand plans for Azerbaijan. Although that didn't work in his favor at the time, his new influence on Obama could give him the opportunity to return to his little hobby of meddling in foreign countries and Azerbajian could become another country under the thumb of George Soros.