For the second time in as many years, a Connecticut effort to regulate hedge funds in the state has failed.
The Connecticut state Senate failed to vote on the measure before the General Assembly adjourned, despite its unanimous approval last week by the state House of Representatives. Last year, the roles were reversed, with the House failing to vote on the measure.
The bill would have made the Nutmeg State—the world’s third largest hedge fund center, after New York and London—the first in the U.S. to impose regulations on hedge funds. The bill would have imposed new reporting requirements on funds in Connecticut, including new conflicts of interest disclosures for hedge funds with more than $100 million in assets.