Industry anticipates extra costs
Securities and Exchange Commission (SEC) edged closer to
regulating US hedge funds after releasing a report on the
industry last week.
The report recommended several changes, including: a
required registration for US hedge funds, audit power for SEC,
greater disclosure by hedge funds, and an increase in the
minimum investment required for investors. The report also
recommended that hedge funds should be allowed to market and
advertise with certain limitations.
The report comes after an SEC review of documents and
information from 65 hedge fund advisers managing more than 650
different hedge funds with over $160 billion of assets. SEC
staff also visited hedge fund advisers and a variety of hedge
fund industry experts and observers. Complementing the study,
SEC held a two-day roundtable.
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