Should the ban on hedge fund advertising be lifted?

Hedge funds are stereotyped as "secretive" investment vehicles, but much of that image stems from regulations that have banned these funds from advertising. That means no talking to the media--among other things. That's been the accepted reality for years. Most assumed it was the price they pay for being exempt from mutual fund-like rules. Now, a group of hedge funds is lobbying the Securities and Exchange Commission to loosen the rules somewhat, which would allow more media access. In part, funds would like to be able to correct factual misstatements about their business without fearing that they are not in compliance. But some may see fit to court the press. They may find that media access is double-edged sword.

For more:
- here's a New York Times article
- more hedge fund news