House Panel Votes To Require Hedge Fund Registration

Law360, New York (October 27, 2009, 7:21 PM EDT) -- The U.S. House of Representatives Financial Services Committee voted 67-1 on Tuesday to approve a bill that would for the first time require hedge fund and other investment advisers overseeing private pools of capital to register with the U.S. Securities and Exchange Commission.

In addition to the new registration requirement, the Private Fund Investment Advisors Registration Act, sponsored by Rep. Paul Kanjorski, D-Pa., attempts to shed light on largely unregulated private investment funds by requiring their advisers to comply with new recordkeeping and disclosure mandates....
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