The U.S. Securities and Exchange Commission responded to objections from hedge funds and private- equity funds by dialing back demands in its new rule calling for fund advisers to report internal information to regulators, according to sources at Bloomberg.
Revising its proposal from January -- approved in a unanimous vote today -- the agency eased thresholds for defining which large funds will have to report the most information starting next year. It also allows private-equity funds to report less often than initially proposed.
In today’s rule, required by the Dodd-Frank regulatory overhaul, all funds with more than $150 million in assets will be required to report asset and operational information that has not been collected by regulators in the past….
Learn more at http://www.businessweek.com/news/2011-10-26/biggest-hedge-funds-to-open-secrets-to-regulators-in-2012.html
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