SEC’s hedge fund registration proposal draws fire at Senate

Speaking at a Senate hearing this week, Shelby was keen to point out that while he shared SEC chairman William Donaldson’s concerns regarding less sophisticated investors' growing access to hedge funds, he still had “questions about whether adviser registration is the most effective means to address concerns voiced by the SEC”.

Earlier this week, SEC commissioners voted by a majority of 3-to-2 to seek comment on a proposal to require the registration of hedge funds with more than $25 million worth of assets under management and more than 14 clients.

Alan Greenspan, chairman of the US Federal Reserve, is due to testify before the Senate Banking Committee next week. He has already expressed concern that tighter regulation of the hedge fund industry could have a detrimental effect on market liquidity.

The comment period for the SEC’s hedge fund registration proposals will last two months.

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Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

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