SEC backs rule change requiring PE fund adviser registration
The US Securities and Exchange Commission (SEC) yesterday approved legislation mandating registration for private equity and hedge fund advisers. Under a measure that features in the Dodd-Frank Act, advisers will have to disclose information on their investors and employees, the assets they manage, potential conflicts of interest, and their activities outside of fund advisory.
Advisers must register by March 30 and all of the information disclosed will be available to the public, Bloomberg reported. However, the House Financial Services Committee yesterday approved legislation...
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