SEC Hedge Fund Reporting Requirements

SEC Hedge Fund Reporting

SEC Softens Hedge Fund Reporting Requirements

The Securities and Exchange Commission has voted to soften proposed reporting requirements for hedge funds and private equity funds. In order to appease industry concerns, the SEC has eased the reporting requirements to apply only to large-size private-funds which will have to submit a detailed quarterly report. Medium-size funds are expected to only submit reports annually and small-size funds will not be required to submit the reports at all.
The reporting requirements are mandated by last year's Dodd-Frank law, which for the first time gave the SEC power to collect confidential information from private-fund advisers, including proprietary data about fund positions.

However, in a nod to industry and Republican lawmakers' concerns, the SEC's final rule reduces the number of large hedge fund advisers that must complete extensive quarterly reports with the SEC. Medium-sized firms would generally be required to file the information annually, while the smallest funds would be exempt from such reporting.

SEC Chairman Mary Schapiro said the information the agency will collect is "tiered so that we would receive more detailed information from larger private fund advisers, rather than imposing the same reporting requirements for all private funds." Source

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