The Connecticut General Assembly has re-proposed a transparency and disclosure bill, originally proposed in January 2009, after not taking it to a vote last year. The bill, if enacted in its current form, would require any investment adviser to a hedge fund with an office in the state to disclose to investors and prospective investors (not later than 30 days before any such investment) in such fund when the investment adviser may have a conflict of interest that could affect its duties and responsibilities to such fund or its investors. The bill would become effective October 1.

To read the text of the bill, click here. Click here for more information on the original bill in the February 27, 2009, edition of Corporate and Financial Weekly Digest.