SEC Commissioner Warns On Ad Rule

Apr 18 2013 | 12:53pm ET

The Securities and Exchange Commission is still wrestling with a proposed rule that will allow hedge funds to advertise, one of its members said yesterday.

Elisse Walter, who served as interim chairman of the regulator prior to Mary Jo White's confirmation this month, told a House Financial Services subcommittee that the SEC is working on how to balance an end to the 80-year-old hedge fund advertising ban, mandated by last year's JOBS Act, while preventing a spike in fraud. The agency is sifting through letters it received during the comment period for the regulation, which was provisionally introduced in August.

"I believe that the over 200 comment letters that were quite substantive and interesting to me and my colleagues that we did receive showed" that the SEC's corporate finance division was wrong to say that no new information could be gained through public comments.

Walter also warned that the new rule will force the agency to expend more energy guarding against fraud.

"We would have to expand examination and enforcement resources that we would not otherwise have to," she said.


In Depth

Q&A: Brevan Howard’s Charlotte Valeur Talks Strategy

Sep 18 2014 | 11:18am ET

Charlotte Valeur chairs the board of Brevan Howard Credit Catalysts, an LSE listed...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.