{"id":34898,"date":"2013-04-11T09:18:42","date_gmt":"2013-04-11T13:18:42","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=34898"},"modified":"2013-04-30T09:49:51","modified_gmt":"2013-04-30T13:49:51","slug":"obama-seeks-more-funding-for-sec-hedge-fund-watch-and-jobs-act","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/04\/2013\/obama-seeks-more-funding-for-sec-hedge-fund-watch-and-jobs-act.html","title":{"rendered":"Obama Seeks More Funding For SEC Hedge Fund Watch And JOBS Act"},"content":{"rendered":"

\"Obama\"<\/a>New York (HedgeCo.Net) – The Obama administration has requested more money for the SEC so it can do a better job examining hedge funds and private-equity firms, MarketWatch reports.<\/p>\n

For FY 2014, the SEC is requesting<\/a> $1.674 billion. This requested budget level would allow the SEC to hire an additional 676 positions, including:<\/p>\n

\u2022 Strengthening core programs and operations;
\n\u2022 Acquiring the necessary skill sets to enhance the agency\u2019s oversight of the increasing complex and rapidly changing markets and entities the SEC regulates;
\n\u2022 Making operational the significant new responsibilities assigned to the agency over areas such as derivatives, private fund advisers, and municipal advisors under the Dodd-Frank Wall Street Reform and Consumer Protection Act; and
\n\u2022 Implementing the new responsibilities created under Title I of the Jumpstart Our Business Startups (JOBS) Act of 2012.<\/p>\n

“The request comes after hundreds of hedge-fund managers and private-equity managers were required to come under SEC oversight, stemming from a 2011 rule that required big funds to register with the agency and have their books opened up to periodic examinations. The Obama administration wants to hike the SEC\u2019s budget to $1.674 million, a 27% increase from 2012 enacted levels.” MarketWatch said<\/em>.<\/p><\/blockquote>\n

And according to the SEC\u2019s budget request, funds haven\u2019t been reviewed frequently, or at all. The request noted that during during fiscal year 2012, the SEC examined only about 8% of of fund managers registered with it. It added that over 40% of fund managers registered with the SEC have never been examined. To try to remedy this situation, the agency is seeking to hire 250 more examiners. (The SEC oversees roughly11,000 investment advisers, including hedge funds and private equity shops, as well as 9,700 mutual funds and exchange-traded funds).<\/p>\n

Alex Akesson
\nFor\u00a0HedgeCo.net<\/a>
\nalex@hedgeco.net<\/a>
\nHedgeCo.Net<\/a>\u00a0is a premier\u00a0hedge fund database<\/a>\u00a0and community for qualified and accredited investors only. Membership in\u00a0HedgeCo.net<\/a>\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

New York (HedgeCo.Net) – The Obama administration has requested more money for the SEC so it can do a better job examining hedge funds and private-equity firms, MarketWatch reports. For FY 2014, the SEC is requesting $1.674 billion. This requested […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-34898","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/34898","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=34898"}],"version-history":[{"count":5,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/34898\/revisions"}],"predecessor-version":[{"id":34900,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/34898\/revisions\/34900"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=34898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=34898"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=34898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}