SEC Hires 130 Examiners As Hedge Registration Deadline Looms

Mar 19 2012 | 11:05am ET

The Securities and Exchange Commission is putting more feet on the ground as it seeks to crack down on illegal trading and live up to its new mandate to oversee hedge funds.

The regulator has hired 130 examiners for its Office of Compliance Inspections and Examinations over the past year-and-a-half. Many of the new hires have expertise or experience with hedge funds, which face a March 30 deadline to register with the SEC.

That office's director, Carlo di Florio said that the agency will begin a series of coordinated exams to look at several target areas: the retail sale of structured products, due diligence, and fraud in custody arrangements. But first, di Florio promised to offer the asset management industry guidance on how it will implement new rules and regulations.

The SEC plans to give hedge funds and others notice of the "challenges we are seeing and provide guidance to help them strengthen their compliance," he told a recent compliance conference held by the Investment Adviser Association.


In Depth

Q&A: Filippo Pignatti Morano On The Ultimate Alternative Investment...Classic Cars

Jan 29 2015 | 12:37pm ET

In 2011, Filippo Pignatti Morano launched a fund to invest in classic cars. FINalternatives...

Lifestyle

Looking For A Hedge Fund Manager? Try Davos

Jan 28 2015 | 8:48am ET

Davos, Switzerland seems to have become the hedge fund capital of the world—at...

Guest Contributor

Five Tips For Successfully Marketing Your Hedge Fund

Jan 30 2015 | 9:14am ET

When it comes to the hedge fund industry, the notion of “build it and it will...

 

Editor's Note