Grassley calls for hedge fund registration

The Senate Finance Committee's top Republican today introduced legislation requiring hedge fund advisers to register with the SEC.
MAY 15, 2007
By  Bloomberg
The ranking minority member of the Senate Finance Committee today introduced legislation that would require hedge fund advisers to register with the Securities and Exchange Commission. “The goal of my initiative is to make our financial markets more transparent,” said Sen. Chuck Grassley, R-Iowa, in a statement. Mr. Grassley said Congress needs to act because the D.C. Circuit Court of Appeals last year overturned a regulation imposed by the Securities and Exchange Commission requiring hedge funds to register. The federal courts said the Securities and Exchange was going beyond its statutory authority. Sen. Grassley cited the failure of large hedge funds, such as Amaranth Advisors LLC of Greenwich, Conn., and the need for SEC and self-regulatory organization oversight to protect against institutional insider trading and other abuses as a reason why the funds should be regulated more closely. Hedge funds control more than $1.2 trillion in assets.

Latest News

The power of cultivating personal connections
The power of cultivating personal connections

Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.

A variety of succession options
A variety of succession options

Whichever path you go down, act now while you're still in control.

'I’ll never recommend bitcoin,' advisor insists
'I’ll never recommend bitcoin,' advisor insists

Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.

LPL raises target for advisors’ bonuses for first time in a decade
LPL raises target for advisors’ bonuses for first time in a decade

“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.

What do older Americans have to say about long-term care?
What do older Americans have to say about long-term care?

Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.

SPONSORED The future of prospecting: Say goodbye to cold calls and hello to smart connections

Streamline your outreach with Aidentified's AI-driven solutions

SPONSORED A bumpy start to autumn but more positives ahead

This season’s market volatility: Positioning for rate relief, income growth and the AI rebound