BusinessWeek – U.S. regulators were responsive to industry concerns over new disclosures for private-fund firms, changing the final rule to prevent unnecessary duplication, said Barbara Novick, co-founder and vice chairman of BlackRock Inc., the world’s biggest fund manager.
Private-equity and hedge funds will start reporting operational information to regulators next year as part of a government effort to prevent future financial crises. The reports they are required to file with the Commodity Futures Trading Commission and Securities and Exchange Commission will be substantially similar, according the text of the final rule released yesterday.
