these will be revealed by the scc and the strategy. of course there are fears in the hedge fund community that this information could leak out at some point. >> why would there be fear about revealing this? i would assume by the time you file it, it's old information anyway. there's an element to the -- you're not revealing anything in a very timely fashion. >> right. so there might be a couple months lag time or whatnot. i do think ultimately this will be updated quarterly. this is information that here to fore has never been published. we know documents do occasionally leak out when it comes to things reviewed by regulators and things that might be newsworthy. i think it's not an unwarranted worry. that said, it's a new era. >> let me ask you something. what is the criteria that would make one have to register? if you're just running friends and family, what's the threshold? >> if you manage $150 million or more, you have to submit this initial round of paper work due on march 30th. and anybody who manages a billion dollars or more i