Connecticut Plans to Regulate Hedge Fund Managers

Tired of waiting for the federal government to regulate hedge funds, Connecticut, home to many hedge funds, may enact legislation requiring fund managers that have not registered with the SEC as investment advisers to disclose material conflicts of interest.  The legislation, which would apply to funds located or doing business in the state, has passed the Senate and is pending in the House.  WSJ, Can Connecticut Stay Hedge-Fund Haven?