Frank Says Hedge Funds Will Be ‘Forced’ To Register

May 11 2009 | 7:19am ET

The head of the U.S. House Financial Services Committee has reiterated that it is only a matter of time before hedge funds are forced to register with the Securities and Exchange Commission.

Rep. Barney Frank (D-Mass.), the chairman of the powerful panel, told the Financial Industry Regulatory Authority that he expects Congress to give the SEC that power shortly. His comments echo ones he made to a financial regulation summit in Washington late last month.

“I do believe soon we will give the SEC authority over hedge funds, forcing them to register,” he said Friday.

The SEC had imposed a registration requirement on hedge funds in 2005, but it was struck down by the courts. At the time, hedge fund managers howled at the move; now, the Managed Funds Association, the largest hedge fund lobby in the U.S., says it will support registration.


In Depth

The Benefits Of Private Debt Investing

May 7 2015 | 10:43am ET

Jeffrey Haas is chief operating officer of Old Hill Partners Inc., an SEC-registered...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

How To Generate 6% Yield In A Volatile World

May 22 2015 | 6:41am ET

Private credit comes in many different flavors, all with the common themes of over...

 

Editor's Note