House Republicans Question SEC Oversight Of Private Funds

Law360, Los Angeles (September 13, 2013, 5:51 PM EDT) -- Two Republican congressmen said in a letter to U.S. Securities and Exchange Commission Chairman Mary Jo White on Thursday that the agency was wasting resources on heightened oversight of private funds that are accessible only to sophisticated investors.

House Financial Services Committee chairman Jeb Hensarling and capital markets subcommittee chair Scott Garrett said private funds pose no systemic risk to the nation’s financial system. Although some are not required to register with the SEC, most are still subject to its oversight, according to Thursday's letter....
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