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Last updated 20 hours ago
Apr 12 2011 | 4:51am ET
Hedge funds and private equity firms will likely have some more time to register with the Securities and Exchange Commission, the regulator said.
Currently, alternative investment firms have until July 21 to register, but that date will likely be moved to early next year, Robert Plaze, an associate director at the SEC, said Friday. “We expect the Commission will consider extending the date… until the first quarter of 2012.”
Law firms and industry representatives have been pushing for a delay, complaining that the SEC has not yet issued the final registration rules, which are set to cover firms that manage in excess of $150 million. Plaze said that the rules would be issued “in advance of July 21.”
Plaze added that smaller firms, which are required to register with state regulators rather than the SEC under the Dodd-Frank financial regulation reform law, would also received the six-month extension.
“I get a lot of e-mails saying, ‘thank you,’” Plaze told HedgeFund.net about the extension news.