US Senate rejects hedge fund registration

The US Senate has rejected proposed legislation requiring most hedge funds to register with the Securities and Exchange Commission.

The proposal, tabled by Charles Grassley, a senior Republican member of the Senate’s finance committee, would have compelled any adviser with more than $50 million under management, or responsible for more than 15 investors, to register with the SEC.

At present, advisers with more than 15 clients have to register, while pooled investment vehicles, such as hedge fund

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