A $31.6 billion hedge fund is calling for a major overhaul of laws meant to prevent another financial crisis

The billionaire hedge fund manager and big Republican donor Paul Singer has long criticized Dodd-Frank, the post-financial-crisis regulation intended to prevent another meltdown.

Now that President Donald Trump’s administration is expected to dismantle the regulation, Singer’s $31.6 billion hedge fund is weighing in again, calling to revamp the law formally known as the Dodd-Frank Wall Street Reform and Consumer Protection Act.

“The financial system needs to be freed from the dysfunctional dictates of this ineffective law and properly and efficiently regulated instead,” Elliott Management said in its fourth-quarter letter to investors.

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