Hedge Fund Registration Bill Introduced In U.S. Senate

Jun 17 2009 | 3:55am ET

One of the senior Democrats on the Senate Banking Committee has introduced legislation that would require hedge funds and other alternative investment firms to register with the Securities and Exchange Commission.

Sen. Jack Reed (D-R.I.), who heads the Subcommittee on Securities, Insurance and Investment, offered the legislation a day before President Barack Obama unveils his wide-ranging reform of the U.S. financial regulatory system. The president’s plan includes registration, among other regulation of the hedge fund industry; the House of Representatives is also considering a registration bill.

“This bill provides the SEC with long-overdue authority to examine and collect data from this key industry,” Reed said. “It also authorizes the SEC to share this data with other federal agencies in order to create a systemwide approach to identifying and mitigating risks.”

Reed’s bill covers hedge fund, private equity, venture capital and other investment pool managers to invest with the SEC. Under his proposal, only firms managing more than $30 million would have to register on the federal level; smaller funds would be regulated on the state level.


In Depth

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

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

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...

 

From the current issue of