Grassley calls for hedge fund registration

The Senate Finance Committee's top Republican today introduced legislation requiring hedge fund advisers to register with the SEC.
MAY 15, 2007
By  Bloomberg
The ranking minority member of the Senate Finance Committee today introduced legislation that would require hedge fund advisers to register with the Securities and Exchange Commission. “The goal of my initiative is to make our financial markets more transparent,” said Sen. Chuck Grassley, R-Iowa, in a statement. Mr. Grassley said Congress needs to act because the D.C. Circuit Court of Appeals last year overturned a regulation imposed by the Securities and Exchange Commission requiring hedge funds to register. The federal courts said the Securities and Exchange was going beyond its statutory authority. Sen. Grassley cited the failure of large hedge funds, such as Amaranth Advisors LLC of Greenwich, Conn., and the need for SEC and self-regulatory organization oversight to protect against institutional insider trading and other abuses as a reason why the funds should be regulated more closely. Hedge funds control more than $1.2 trillion in assets.

Latest News

Summit Financial, MassMutual boost advisor appeal with growth-focused tech
Summit Financial, MassMutual boost advisor appeal with growth-focused tech

Summit Financial unveiled a suite of eight new tools, including AI lead gen and digital marketing software, while MassMutual forges a new partnership with Orion.

SEC enforcement actions drop sharply, with focus shifting to investor fraud
SEC enforcement actions drop sharply, with focus shifting to investor fraud

A new analysis shows the number of actions plummeting over a six-month period, potentially due to changing priorities and staffing reductions at the agency.

MAI inks mega-deal with Evoke Advisors to form $60B AUM firm
MAI inks mega-deal with Evoke Advisors to form $60B AUM firm

The strategic merger of equals with the $27 billion RIA firm in Los Angeles marks what could be the largest unification of the summer 2025 M&A season.

Employees tapping retirement funds amid financial strain, led by Gen Zs
Employees tapping retirement funds amid financial strain, led by Gen Zs

Report highlights lack of options for those faced with emergency expenses.

LPL Financial on target to retain 90% of Commonwealth financial advisors, Wolfe Research analyst says
LPL Financial on target to retain 90% of Commonwealth financial advisors, Wolfe Research analyst says

However, Raymond James has had success recruiting Commonwealth advisors.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.