WASHINGTON, D.C. (HedgeCo.Net) – William Donaldson, the Chairman of the Securities and Exchange Commission has acknowledged that about 50% of the US hedge fund advisers have registered with the SEC.Mr. Donaldson was answering a critical reporter\u00c3\u00af\u00c2\u00bf\u00c2\u00bds question on his proposals for the regulation of the US hedge fund industry.<\/p>\n
The SEC chairman pointed to the voluntary registration of about 50% of the US hedge fund advisers to support his contention that the agencies\u00c3\u00af\u00c2\u00bf\u00c2\u00bd hedge fund registration proposals are not cumbersome as suggested by many individuals and hedge fund trade groups opposed to such process.<\/p>\n
Mr. Donaldson\u00c3\u00af\u00c2\u00bf\u00c2\u00bds prepared remarks were made at the Financial Services Leadership forum, he said, \u00c3\u00af\u00c2\u00bf\u00c2\u00bdWe have no desire to regulate hedge funds as investment companies under the Investment Company Act, which could restrict their investment concentrations and leverage strategies. Nor do we want to require disclosure of their proprietary investment strategies or choke off their expansion. Our decision to utilize the Investment Advisers Act, which is primarily a disclosure and antifraud law, speaks to our modest objectives.\u00c3\u00af\u00c2\u00bf\u00c2\u00bd<\/p>\n
The Chairman once more repeated his earlier statements that the hedge fund regulation laws are geared towards the protection of investors, and will help his agency to move forward in dealing with new challenges with the US financial markets.<\/p>\n
Paul Oranika
Editor-in-Chief
HedgeCo.Net
Email: Editor@hedgeco.net<\/p>\n
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