SEC’s hedge fund registration proposal draws fire at Senate
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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