SEC Hedge Fund Reporting
SEC Softens Hedge Fund Reporting Requirements
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