Hedge Fund Legislation Introduced
Two senior Senators, Sen. Carl Levin (D-MI) and Sen. Charles E. Grassley (R-IA), introduced legislation on Thursday, January 29th, to impose government oversight of hedge funds.
It is believed that the new bill was filed in conjunction with the Obama administration's preparation of their own proposal, containing broader legislative overhaul of the regulatory system, including an attempt to regulate hedge funds. This legislation would require hedge funds with assets of at least $50 million to register with the SEC. Also, under this proposed legislation, investment advisers to these funds would be required to register under the Investment Advisers Act of 1940.
Important Publications:
SIFMA SmartBrief (past five issues)
SIFMA Regulatory Update
SIFMA Washington Weekly