Tuesday, 24 May 2016
Last updated 6 hours ago
Feb 4 2009 | 12:12pm ET
Another member of the Securities and Exchange Commission has come out in favor of requiring hedge funds to register with the agency.
“I generally do support that notion,” Elisse Walter told Reuters. “But the devil is in the details. Registration has to be meaningful.”
Walter’s comments mean all three Democratic commissioners on the SEC have come out in favor of stronger regulation of hedge fund. New SEC Chairman Mary Schapiro favors a hedge fund registration requirement, while fellow commissioner Luis Aguilar has called on Congress to give the regulator more power over hedge funds.
And Congress seems poised to do just that: Legislation empowering the SEC to compel hedge funds to register and improve transparency in the industry has been introduced in both houses of Congress.