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

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of