SEC Inks Sweeping Hedge Fund Adviser Rules

Law360, New York (June 22, 2011, 5:45 PM EDT) -- The U.S. Securities and Exchange Commission on Wednesday approved stringent new rules for advisers to hedge funds and other large private funds that have historically eluded regulatory oversight.

The commissioners ushered in central reforms under the Dodd-Frank Wall Street Reform and Consumer Protection Act, imposing comprehensive reporting requirements for hedge fund, private equity fund and other fund advisers with more than $150 million under management.

“Today’s rules will fill a key gap in the regulatory landscape,” Chairwoman Mary Schapiro said. “In particular, our proposal will give...
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