Hedge Fund Advertising Rules Due This Summer

Jun 29 2012 | 12:24pm ET

An 80-year-old ban on hedge fund advertising will finally be lifted this summer, U.S. Securities and Exchange Commission Chairman Mary Schapiro said yesterday.

Testifying before a House of Representatives oversight committee, Schapiro said that the new rule—mandated by April's JOBS Act—will not be ready by the 90-day deadline set out in the law. But she said she expects the commission to issue the rule this summer, which will allow hedge funds and other private funds to advertise to the general public.

"It's a bit more challenging a rule-making than it might seem on the surface," Schapiro said, noting that the JOBS Act requires the SEC to require private funds—which will still be available only to the wealthy—to take reasonable steps to ensure that investors are, in fact, accredited.


In Depth

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

 

From the current issue of